Solid Biosciences (NASDAQ:SLDB) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Solid Biosciences (NASDAQ:SLDB - Free Report) in a research report released on Friday morning,Benzinga reports. The firm currently has a $16.00 price objective on the stock.

SLDB has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. JMP Securities assumed coverage on Solid Biosciences in a research note on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 price objective for the company. Truist Financial started coverage on shares of Solid Biosciences in a research report on Wednesday. They set a "buy" rating and a $16.00 target price on the stock. Wedbush assumed coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They issued an "outperform" rating and a $16.00 price target for the company. Finally, Chardan Capital reiterated a "buy" rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.30.

Solid Biosciences Stock Down 8.7 %

SLDB traded down $0.35 on Friday, reaching $3.68. The company's stock had a trading volume of 964,331 shares, compared to its average volume of 860,055. Solid Biosciences has a fifty-two week low of $3.42 and a fifty-two week high of $15.05. The stock has a 50 day moving average of $4.92 and a two-hundred day moving average of $6.62. The company has a market capitalization of $147.03 million, a price-to-earnings ratio of -1.21 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its 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, analysts anticipate that Solid Biosciences will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $79,716. This trade represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David T. Howton sold 5,072 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction 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 trade represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,775 shares of company stock worth $140,008 over the last 90 days. Company insiders own 13.63% of the company's stock.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Solid Biosciences during the second quarter worth $58,000. The Manufacturers Life Insurance Company purchased a new position in shares of Solid Biosciences in the third quarter valued at $71,000. Algert Global LLC acquired a new position in shares of Solid Biosciences during the 2nd quarter worth $82,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Solid Biosciences in the 2nd quarter worth about $92,000. Finally, MetLife Investment Management LLC grew its stake in Solid Biosciences by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company's stock valued at $95,000 after acquiring an additional 7,719 shares during 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.