Analysts Set Solid Biosciences Inc. (NASDAQ:SLDB) Price Target at $15.22

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has earned an average rating of "Buy" from the twelve brokerages that are currently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $15.22.

A number of research firms have weighed in on SLDB. HC Wainwright reissued a "buy" rating and set a $16.00 target price on shares of Solid Biosciences in a report on Thursday, December 12th. JMP Securities began coverage on Solid Biosciences in a report on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. William Blair raised Solid Biosciences to a "strong-buy" rating in a research note on Friday, August 30th. Finally, Wedbush began coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an "outperform" rating and a $16.00 price objective on the stock.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $25,816.00. Following the transaction, the insider now owns 14,235 shares in the company, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $215,510.40. This trade represents a 22.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,719 shares of company stock valued at $135,457 in the last quarter. 13.63% of the stock is currently owned by company insiders.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new stake in shares of Solid Biosciences during the second quarter worth about $58,000. The Manufacturers Life Insurance Company acquired a new position in Solid Biosciences during the 3rd quarter valued at about $71,000. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth approximately $76,000. Algert Global LLC bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $82,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $92,000. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB traded down $0.13 during mid-day trading on Friday, hitting $4.24. 466,959 shares of the stock traded hands, compared to its average volume of 344,007. The company has a market cap of $169.41 million, a PE ratio of -1.39 and a beta of 2.01. Solid Biosciences has a twelve month low of $3.90 and a twelve month high of $15.05. The firm has a 50 day simple moving average of $5.23 and a two-hundred day simple moving average of $6.82.

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

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.