Solid Biosciences (NASDAQ:SLDB) Coverage Initiated by Analysts at Wedbush

Wedbush assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB - Free Report) in a report released on Friday, Marketbeat reports. The brokerage issued an outperform rating and a $16.00 price objective on the stock.

Several other brokerages also recently issued reports on SLDB. William Blair raised Solid Biosciences to a "strong-buy" rating in a research report on Friday, August 30th. JMP Securities started coverage on Solid Biosciences in a research report on Tuesday. They issued an "outperform" rating and a $15.00 price target on the stock. Citizens Jmp upgraded Solid Biosciences to a "strong-buy" rating in a report on Tuesday. HC Wainwright restated a "buy" rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Nine research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $15.22.

Solid Biosciences Trading Up 4.9 %

Solid Biosciences stock traded up $0.23 during trading hours on Friday, reaching $4.91. 465,507 shares of the company were exchanged, compared to its average volume of 340,391. Solid Biosciences has a 12 month low of $4.33 and a 12 month high of $15.05. The firm has a market cap of $196.20 million, a price-to-earnings ratio of -1.54 and a beta of 2.01. The stock has a 50-day moving average of $5.72 and a 200 day moving average of $7.09.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.12). As a group, research analysts forecast that Solid Biosciences will post -2.85 EPS for the current year.

Insider Buying and Selling at Solid Biosciences

In other news, insider Jessie Hanrahan sold 4,610 shares of the firm'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 transaction 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 filing with the SEC, which is accessible through this link. Also, CEO Alexander Cumbo sold 11,114 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 $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 trade represents a 22.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,719 shares of company stock valued at $135,457. 13.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP raised its stake in shares of 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 acquiring an additional 135,000 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company's stock valued at $9,798,000 after purchasing an additional 994,984 shares in the last quarter. Point72 Asset Management L.P. raised its position in Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock worth $3,088,000 after purchasing an additional 330,234 shares during the last quarter. State Street Corp raised its position in Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company's stock worth $3,078,000 after purchasing an additional 37,130 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Solid Biosciences by 303.6% during the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company's stock worth $1,574,000 after buying an additional 208,793 shares in the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

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.