Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Rating of "Buy" by Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has earned a consensus rating of "Buy" from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $15.40.

Several brokerages have issued reports on SLDB. Wedbush initiated coverage on Solid Biosciences in a research report on Friday, December 13th. They set an "outperform" rating and a $16.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, January 10th. Truist Financial assumed coverage on Solid Biosciences in a research note on Wednesday, January 8th. They issued a "buy" rating and a $16.00 target price on the stock. Citizens Jmp raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th.

Solid Biosciences Stock Down 3.7 %

Shares of NASDAQ SLDB traded down $0.22 during midday trading on Friday, reaching $5.78. 2,182,549 shares of the company's stock traded hands, compared to its average volume of 5,248,189. The company has a market cap of $234.55 million, a price-to-earnings ratio of -1.90 and a beta of 2.01. The stock's 50 day simple moving average is $3.83 and its 200-day simple moving average is $5.76. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 directly owns 14,235 shares in the company, valued at approximately $79,716. The trade was a 24.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the sale, the chief executive officer now owns 38,484 shares in the company, valued at $215,510.40. The trade was a 22.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,069 shares of company stock worth $137,301. Company insiders own 13.63% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Solid Biosciences during the 4th quarter worth approximately $34,000. Corton Capital Inc. purchased a new stake in Solid Biosciences during the fourth quarter worth $41,000. Invesco Ltd. acquired a new stake in Solid Biosciences during the fourth quarter valued at $49,000. Sei Investments Co. purchased a new position in Solid Biosciences in the fourth quarter valued at $52,000. Finally, Wells Fargo & Company MN raised its position in shares of Solid Biosciences by 29.4% in 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. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.