Leerink Swann cut shares of Solid Biosciences (NASDAQ:SLDB) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat.com reports.
A number of other equities analysts have also recently issued reports on SLDB. Zacks Investment Research upgraded Solid Biosciences from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Wednesday, October 17th. Chardan Capital reiterated a buy rating and set a $15.00 price target on shares of Solid Biosciences in a report on Thursday. Citigroup began coverage on Solid Biosciences in a report on Tuesday, November 6th. They set a sell rating and a $25.00 price target on the stock. Finally, BTIG Research began coverage on Solid Biosciences in a report on Monday, December 10th. They set a neutral rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $35.00.
SLDB opened at $7.42 on Thursday. Solid Biosciences has a one year low of $5.97 and a one year high of $54.84. The firm has a market capitalization of $262.91 million and a PE ratio of -2.58.
Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Tuesday, November 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.01. On average, research analysts forecast that Solid Biosciences will post -2.21 earnings per share for the current fiscal year.
In other Solid Biosciences news, insider Joel Solomon Zev Schneider sold 21,990 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $30.84, for a total value of $678,171.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ilan Ganot sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $30.84, for a total value of $1,542,000.00. The disclosure for this sale can be found here. Insiders have sold 149,240 shares of company stock worth $4,614,793 in the last quarter.
A number of hedge funds and other institutional investors have recently modified their holdings of SLDB. First Manhattan Co. grew its stake in Solid Biosciences by 100.0% in the fourth quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock valued at $53,000 after purchasing an additional 1,000 shares in the last quarter. Legal & General Group Plc grew its stake in Solid Biosciences by 47.8% in the third quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after purchasing an additional 590 shares in the last quarter. SG Americas Securities LLC purchased a new position in Solid Biosciences in the third quarter valued at about $227,000. Partner Investment Management L.P. grew its stake in Solid Biosciences by 75.4% in the third quarter. Partner Investment Management L.P. now owns 6,604 shares of the company’s stock valued at $312,000 after purchasing an additional 2,838 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Solid Biosciences in the third quarter valued at about $341,000. Hedge funds and other institutional investors own 63.59% of the company’s stock.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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