Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.30 Average Price Target from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has received an average rating of "Buy" from the thirteen analysts that are presently covering the company, 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.40.

A number of research analysts recently commented on the stock. Chardan Capital boosted their price objective on shares of Solid Biosciences from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, January 10th. Truist Financial initiated coverage on Solid Biosciences in a research report on Wednesday, January 8th. They set a "buy" rating and a $16.00 price objective for the company. JMP Securities initiated coverage on Solid Biosciences in a research report on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 target price on the stock. Finally, Wedbush initiated coverage on Solid Biosciences in a report on Friday, December 13th. They set an "outperform" rating and a $16.00 price target for the company.

Insiders Place Their Bets

In other news, insider Jessie Hanrahan sold 4,610 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 $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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO David T. Howton sold 5,072 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares in the company, valued at $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,069 shares of company stock valued at $137,301 over the last 90 days. 13.63% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors have recently made changes to their positions in SLDB. Quantum Private Wealth LLC acquired a new stake in Solid Biosciences in the 3rd quarter valued at approximately $220,000. Los Angeles Capital Management LLC bought a new stake in shares of Solid Biosciences in the third quarter valued at approximately $293,000. Valence8 US LP acquired a new stake in shares of Solid Biosciences in the third quarter worth $110,000. The Manufacturers Life Insurance Company bought a new position in Solid Biosciences during the third quarter worth $71,000. Finally, FMR LLC acquired a new position in Solid Biosciences during the 3rd quarter valued at $305,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Trading Up 22.0 %

NASDAQ:SLDB traded up $1.17 on Friday, hitting $6.47. 12,793,373 shares of the company's stock traded hands, compared to its average volume of 3,353,388. The firm has a 50-day moving average price of $3.75 and a 200-day moving average price of $5.79. The company has a market cap of $258.38 million, a PE ratio of -2.13 and a beta of 2.01. Solid Biosciences has a 1 year low of $2.88 and a 1 year high of $15.05.

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.