HC Wainwright Reiterates Buy Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $16.00 price target on the stock. HC Wainwright's target price points to a potential upside of 241.88% from the stock's current price.

Several other brokerages have also recently commented on SLDB. JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Citizens Jmp upgraded Solid Biosciences to a "strong-buy" rating in a research report on Tuesday. Chardan Capital reiterated a "buy" rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Monday, November 11th. William Blair raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Friday, August 30th. Finally, JMP Securities started coverage on shares of Solid Biosciences in a research report on Tuesday. They set an "outperform" rating and a $15.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.13.

Solid Biosciences Trading Down 6.6 %

SLDB stock traded down $0.33 during mid-day trading on Thursday, reaching $4.68. 219,916 shares of the stock traded hands, compared to its average volume of 339,855. Solid Biosciences has a 52-week low of $3.83 and a 52-week high of $15.05. The stock's fifty day moving average is $5.76 and its 200-day moving average is $7.11. The company has a market cap of $187.01 million, a P/E ratio of -1.61 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Equities research analysts expect that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Buying and Selling

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $25,816.00. Following the transaction, the insider now directly owns 14,235 shares in the company, valued at $79,716. This trade represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David T. Howton sold 5,072 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $28,403.20. Following the sale, the chief operating officer now owns 15,663 shares of the company's stock, valued at approximately $87,712.80. This trade represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,719 shares of company stock worth $135,457. Insiders own 13.63% of the company's stock.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its holdings in Solid Biosciences by 412.1% in the 3rd quarter. Barclays PLC now owns 62,856 shares of the company's stock worth $439,000 after acquiring an additional 50,582 shares during the period. XTX Topco Ltd acquired a new position in shares of Solid Biosciences during the 3rd quarter worth about $121,000. Wellington Management Group LLP boosted its stake in Solid Biosciences by 183.6% during the 3rd quarter. Wellington Management Group LLP now owns 119,804 shares of the company's stock valued at $835,000 after purchasing an additional 77,564 shares during the period. State Street Corp grew its holdings in Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company's stock valued at $3,078,000 after buying an additional 37,130 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock worth $3,088,000 after buying an additional 330,234 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.