Solid Biosciences (NASDAQ:SLDB) Rating Increased to Strong-Buy at Wedbush

Wedbush upgraded shares of Solid Biosciences (NASDAQ:SLDB - Free Report) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

SLDB has been the subject of a number of other research reports. JMP Securities started coverage on Solid Biosciences in a research report on Tuesday. They set an "outperform" rating and a $15.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Thursday. Citizens Jmp raised shares of Solid Biosciences to a "strong-buy" rating in a report on Tuesday. Chardan Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Monday, November 11th. Finally, Barclays reduced their target price on Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 14th. Eight analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Solid Biosciences currently has a consensus rating of "Buy" and an average price target of $15.22.

Solid Biosciences Trading Up 4.9 %

Shares of SLDB stock traded up $0.23 during trading hours on Thursday, reaching $4.91. The stock had a trading volume of 467,509 shares, compared to its average volume of 340,410. The stock's fifty day simple moving average is $5.69 and its 200 day simple moving average is $7.07. The firm has a market capitalization of $196.20 million, a PE ratio of -1.62 and a beta of 2.01. Solid Biosciences has a 12 month low of $4.33 and a 12 month high of $15.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released 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). As a group, equities research analysts anticipate that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 38,484 shares of the company's stock, valued at $215,510.40. This represents a 22.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,719 shares of company stock worth $135,457. Company insiders own 13.63% of the company's stock.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in Solid Biosciences by 135.7% during the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company's stock valued at $9,798,000 after acquiring an additional 994,984 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock valued at $3,088,000 after purchasing an additional 330,234 shares during the period. Marshall Wace LLP bought a new stake in shares of Solid Biosciences during the second quarter valued at approximately $1,554,000. Renaissance Technologies LLC grew its stake in Solid Biosciences by 303.6% in the second quarter. Renaissance Technologies LLC now owns 277,564 shares of the company's stock worth $1,574,000 after purchasing an additional 208,793 shares during the period. Finally, Vestal Point Capital LP raised its holdings in Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company's stock worth $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company's stock.

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.