Solid Biosciences (NASDAQ:SLDB) Earns Buy Rating from Analysts at Truist Financial

Analysts at Truist Financial assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB - Get Free Report) in a research report issued on Wednesday, Marketbeat.com reports. The firm set a "buy" rating and a $16.00 price target on the stock. Truist Financial's target price indicates a potential upside of 297.02% from the company's current price.

A number of other research firms also recently issued reports on SLDB. JMP Securities started coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They set an "outperform" rating and a $15.00 price objective for the company. Wedbush assumed coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They set an "outperform" rating and a $16.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, December 12th. Chardan Capital reissued a "buy" rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Monday, November 11th. Finally, Citizens Jmp upgraded Solid Biosciences to a "strong-buy" rating in a research note on Tuesday, December 10th. Nine analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $15.30.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB traded up $0.11 during midday trading on Wednesday, reaching $4.03. The company's stock had a trading volume of 2,478,302 shares, compared to its average volume of 837,684. The stock has a market capitalization of $161.02 million, a P/E ratio of -1.33 and a beta of 2.05. The firm has a 50 day moving average price of $4.99 and a 200-day moving average price of $6.65. Solid Biosciences has a 12-month low of $3.85 and a 12-month high of $15.05.

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

Insider Activity

In related news, COO David T. Howton sold 5,072 shares of the company'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 $28,403.20. Following the transaction, the chief operating officer now directly owns 15,663 shares in the company, valued at approximately $87,712.80. This represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now owns 14,235 shares of the company's stock, valued at approximately $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 ninety days, insiders sold 24,775 shares of company stock worth $140,008. 13.63% of the stock is owned by company insiders.

Institutional Trading of Solid Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Solid Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company's stock valued at $402,000 after purchasing an additional 5,287 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company's stock valued at $95,000 after buying an additional 7,719 shares in the last quarter. American Century Companies Inc. lifted its position in Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company's stock worth $196,000 after buying an additional 9,853 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Solid Biosciences in the third quarter worth approximately $71,000. Finally, Point72 DIFC Ltd bought a new position in Solid Biosciences during the second quarter valued at approximately $58,000. Hedge funds and other 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.