Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of “Buy” by Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average recommendation of “Buy” from the five analysts that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.25.

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Solid Biosciences from $8.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Citigroup initiated coverage on Solid Biosciences in a research note on Friday, March 15th. They set a “buy” rating and a $16.00 target price for the company. Piper Sandler raised Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $8.00 to $20.00 in a research note on Thursday, March 14th. William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, March 14th.

Insider Buying and Selling at Solid Biosciences

In other news, CFO Kevin Tan sold 3,935 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $8.20, for a total transaction of $32,267.00. Following the sale, the chief financial officer now owns 9,308 shares in the company, valued at $76,325.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin Tan sold 3,935 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $8.20, for a total value of $32,267.00. Following the transaction, the chief financial officer now directly owns 9,308 shares of the company’s stock, valued at approximately $76,325.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Perceptive Advisors Llc bought 3,410,713 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was purchased at an average cost of $5.53 per share, for a total transaction of $18,861,242.89. Following the completion of the transaction, the director now directly owns 6,833,539 shares in the company, valued at approximately $37,789,470.67. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,216 shares of company stock worth $39,430. 19.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Prudential Financial Inc. purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $28,000. Atria Wealth Solutions Inc. purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $33,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Solid Biosciences in the 1st quarter worth $47,000. CIBC Asset Management Inc purchased a new position in shares of Solid Biosciences in the 1st quarter worth $57,000. Finally, Mirabella Financial Services LLP purchased a new position in Solid Biosciences in the first quarter valued at about $78,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Price Performance

SLDB stock opened at $14.25 on Thursday. The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $538.08 million, a PE ratio of -2.94 and a beta of 1.88. Solid Biosciences has a 12-month low of $1.81 and a 12-month high of $14.99. The business’s fifty day moving average price is $9.82 and its 200 day moving average price is $5.83.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.01. On average, sell-side analysts anticipate that Solid Biosciences will post -2.52 EPS for the current year.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in developing therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a next-generation gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne); AVB-202-TT, a gene therapy program for the treatment of Friedreich's ataxia; AVB-401, a gene therapy program for the treatment of BAG3-mediated dilated cardiomyopathy; and other drugs for the treatment of undisclosed cardiac diseases.