Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of “Moderate Buy” by Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.3636.

SLDB has been the topic of several recent research reports. HC Wainwright restated a “buy” rating and issued a $20.00 price target on shares of Solid Biosciences in a research report on Monday, March 23rd. Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Tuesday, April 21st. Wall Street Zen cut Solid Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Guggenheim initiated coverage on Solid Biosciences in a research report on Friday, March 20th. They set a “buy” rating and a $26.00 target price on the stock.

Insiders Place Their Bets

In other Solid Biosciences news, COO David T. Howton sold 7,469 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total transaction of $43,469.58. Following the transaction, the chief operating officer owned 105,077 shares in the company, valued at approximately $611,548.14. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin Tan sold 5,404 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $31,451.28. Following the transaction, the chief financial officer owned 99,422 shares in the company, valued at $578,636.04. The trade was a 5.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 39,925 shares of company stock worth $232,364. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SLDB. Legal & General Group Plc lifted its stake in shares of Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the period. Creative Planning purchased a new position in shares of Solid Biosciences during the 2nd quarter worth $57,000. Russell Investments Group Ltd. lifted its stake in shares of Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after purchasing an additional 5,991 shares during the period. Polymer Capital Management US LLC purchased a new position in shares of Solid Biosciences during the 3rd quarter worth $94,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Solid Biosciences during the 3rd quarter worth $114,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $6.51 on Tuesday. Solid Biosciences has a fifty-two week low of $2.61 and a fifty-two week high of $8.87. The company has a market capitalization of $640.91 million, a P/E ratio of -3.34 and a beta of 2.47. The stock has a 50-day simple moving average of $7.57 and a 200-day simple moving average of $6.31.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.12). As a group, analysts forecast that Solid Biosciences will post -1.74 earnings per share for the current year.

About Solid Biosciences

Solid Biosciences Inc is a clinical?stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle?stabilizing protein.

Solid’s lead investigational therapy, SGT?001, is a micro?dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno?associated virus (AAV) vector.