Solid Biosciences Inc. (NASDAQ:SLDB) Receives $14.70 Average PT from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.70.

A number of brokerages have issued reports on SLDB. Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Wednesday, January 14th. Finally, Wall Street Zen lowered Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th.

Solid Biosciences Trading Up 1.7%

NASDAQ SLDB opened at $6.54 on Friday. The company has a market cap of $509.53 million, a price-to-earnings ratio of -2.63 and a beta of 2.67. The company has a 50 day moving average of $5.78 and a 200-day moving average of $5.71. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). On average, equities research analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current year.

Solid Biosciences News Summary

Here are the key news stories impacting Solid Biosciences this week:

• Positive Sentiment: Analyst support: SLDB carries a consensus “Moderate Buy” stance with a materially higher average price target (~$14.70), which can underpin demand and limit downside after negative headlines.
• Neutral Sentiment: Institutional backing: institutional ownership is high (~81%) and several institutions have recently increased or established positions — that stabilizes the shareholder base but may mute immediate volatility. Read More.
• Neutral Sentiment: Technical/market context: trading volume is slightly above average and the stock is trading inside its 52?week range, suggesting mixed directional conviction among broader investors. Read More.
• Negative Sentiment: Large, coordinated insider selling: on Feb. 2 several senior executives sold sizeable stakes at an average price of about $6.44 — CEO Alexander Cumbo (~80,258 shares), COO David Howton (~37,771), CTO Paul Herzich (~26,250), CFO Kevin Tan (~26,837) and other insiders — totaling roughly ~226k shares for ~ $1.4–1.5M and individual position cuts of ~20–25%. Those sales can sap short?term investor confidence and add supply into the market. Representative SEC filings and coverage: Read More., Read More., Read More.

Insider Transactions at Solid Biosciences

In related news, CEO Alexander Cumbo sold 80,258 shares of Solid Biosciences stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $6.44, for a total transaction of $516,861.52. Following the sale, the chief executive officer directly owned 270,931 shares of the company’s stock, valued at approximately $1,744,795.64. The trade was a 22.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessie Hanrahan sold 26,535 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $6.44, for a total transaction of $170,885.40. Following the completion of the transaction, the insider directly owned 82,675 shares of the company’s stock, valued at approximately $532,427. The trade was a 24.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 455,007 shares of company stock valued at $2,892,048. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bollard Group LLC bought a new stake in shares of Solid Biosciences during the second quarter worth about $1,761,000. Geode Capital Management LLC raised its holdings in Solid Biosciences by 184.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after buying an additional 979,294 shares during the last quarter. Franklin Resources Inc. boosted its position in Solid Biosciences by 28.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock worth $7,788,000 after buying an additional 358,473 shares during the period. Blair William & Co. IL bought a new stake in Solid Biosciences during the 2nd quarter worth approximately $807,000. Finally, ProShare Advisors LLC acquired a new position in Solid Biosciences in the 2nd quarter valued at approximately $80,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

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.