Solid Biosciences (NASDAQ:SLDB) Stock Price Up 11% – Should You Buy?

Solid Biosciences Inc. (NASDAQ:SLDB) rose 11% on Thursday . The company traded as high as $6.83 and last traded at $6.8360. Approximately 1,643,785 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 1,109,853 shares. The stock had previously closed at $6.16.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SLDB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Wednesday, January 14th. Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.70.

Solid Biosciences Price Performance

The stock has a market cap of $534.46 million, a P/E ratio of -2.76 and a beta of 2.69. The stock has a 50-day simple moving average of $5.42 and a 200-day simple moving average of $5.64.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). As a group, sell-side analysts forecast that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO David T. Howton sold 4,932 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $25,202.52. Following the completion of the transaction, the chief operating officer directly owned 32,908 shares in the company, valued at approximately $168,159.88. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin Tan sold 5,704 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $5.27, for a total value of $30,060.08. Following the sale, the chief financial officer directly owned 46,100 shares in the company, valued at approximately $242,947. This trade represents a 11.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,681 shares of company stock valued at $152,920. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Solid Biosciences during the 4th quarter worth approximately $118,000. CIBC Bancorp USA Inc. bought a new position in shares of Solid Biosciences during the third quarter valued at $228,000. Armistice Capital LLC lifted its holdings in shares of Solid Biosciences by 134.0% during the third quarter. Armistice Capital LLC now owns 936,000 shares of the company’s stock worth $5,775,000 after purchasing an additional 536,000 shares during the period. Alyeska Investment Group L.P. grew its stake in shares of Solid Biosciences by 2.6% in the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock worth $10,383,000 after purchasing an additional 41,984 shares during the last quarter. Finally, Vestal Point Capital LP increased its holdings in Solid Biosciences by 97.7% in the third quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock valued at $18,356,000 after purchasing an additional 1,470,000 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.