Solid Biosciences Inc. (NASDAQ:SLDB) Receives $14.70 Consensus Price Target from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $14.70.

A number of research firms recently weighed in on SLDB. Barclays set a $9.00 price target on Solid Biosciences and gave the company an “overweight” rating in a report on Tuesday, November 4th. Wall Street Zen lowered Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Wednesday, January 14th. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lowered their price objective 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.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $6.23 on Friday. The company’s fifty day moving average is $5.82 and its 200-day moving average is $5.72. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $7.37. The company has a market capitalization of $485.38 million, a PE ratio of -2.50 and a beta of 2.67.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). On average, analysts forecast that Solid Biosciences will post -2.84 EPS for the current year.

Insider Transactions at Solid Biosciences

In other news, CFO Kevin Tan sold 26,837 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $172,830.28. Following the completion of the sale, the chief financial officer owned 108,984 shares in the company, valued at $701,856.96. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jessie Hanrahan sold 26,535 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.44, for a total value of $170,885.40. Following the transaction, the insider directly owned 82,675 shares in the company, valued at $532,427. This trade represents a 24.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 455,007 shares of company stock worth $2,892,048 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Solid Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. Bollard Group LLC bought a new stake in shares of Solid Biosciences during the 2nd quarter valued at $1,761,000. Geode Capital Management LLC grew its stake in shares of Solid Biosciences by 184.5% during the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after purchasing an additional 979,294 shares during the period. Franklin Resources Inc. increased its holdings in Solid Biosciences by 28.9% in the second quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock valued at $7,788,000 after purchasing an additional 358,473 shares during the last quarter. Blair William & Co. IL acquired a new position in Solid Biosciences in the second quarter valued at about $807,000. Finally, Knott David M Jr boosted its holdings in Solid Biosciences by 23.1% during the second quarter. Knott David M Jr now owns 162,440 shares of the company’s stock worth $791,000 after buying an additional 30,440 shares during the last quarter. 81.46% of the stock is owned by institutional investors.

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.