Cantor Fitzgerald Analysts Raise Earnings Estimates for SLDB

Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - Equities research analysts at Cantor Fitzgerald lifted their FY2025 earnings estimates for Solid Biosciences in a research note issued on Wednesday, February 19th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn ($1.43) per share for the year, up from their previous estimate of ($2.45). The consensus estimate for Solid Biosciences' current full-year earnings is ($2.84) per share.

A number of other equities analysts also recently weighed in on SLDB. HC Wainwright reaffirmed a "buy" rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Friday, January 10th. JPMorgan Chase & Co. dropped their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Truist Financial initiated coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a "buy" rating and a $16.00 price objective for the company. JMP Securities initiated coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 price objective for the company. Finally, Citizens Jmp raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Tuesday, December 10th. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Solid Biosciences has an average rating of "Buy" and a consensus price target of $15.40.

Solid Biosciences Price Performance

NASDAQ:SLDB traded down $0.22 during trading hours on Friday, reaching $5.78. 2,182,549 shares of the company were exchanged, compared to its average volume of 3,437,005. The firm has a market cap of $234.55 million, a price-to-earnings ratio of -1.90 and a beta of 2.01. Solid Biosciences has a 52-week low of $2.88 and a 52-week high of $15.05. The stock has a 50 day simple moving average of $3.83 and a 200 day simple moving average of $5.76.

Insider Buying and Selling

In other news, CEO Alexander Cumbo sold 11,114 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares in the company, valued at approximately $215,510.40. The trade was a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessie Hanrahan sold 4,610 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $25,816.00. Following the completion of the sale, the insider now owns 14,235 shares of the company's stock, valued at $79,716. The trade was a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,069 shares of company stock worth $137,301. 13.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its position in Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock worth $53,000 after acquiring an additional 2,986 shares during the period. Rhumbline Advisers increased its position in Solid Biosciences by 10.5% during the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock worth $175,000 after acquiring an additional 4,161 shares during the period. Wellington Management Group LLP increased its position in Solid Biosciences by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock worth $498,000 after acquiring an additional 4,747 shares during the period. Geode Capital Management LLC increased its position in Solid Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock worth $2,040,000 after acquiring an additional 4,932 shares during the period. Finally, American Century Companies Inc. increased its holdings in Solid Biosciences by 12.3% in the 4th quarter. American Century Companies Inc. now owns 46,857 shares of the company's stock valued at $187,000 after buying an additional 5,126 shares during the period. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Company Profile

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.