Solid Biosciences (NASDAQ:SLDB) Coverage Initiated at Truist Financial

Analysts at Truist Financial began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Truist Financial’s price target suggests a potential upside of 308.16% from the stock’s current price.

Several other brokerages have also commented on SLDB. JMP Securities began coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. Wedbush began coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Thursday, December 12th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.30.

Solid Biosciences Stock Down 4.4 %

Shares of Solid Biosciences stock opened at $3.92 on Wednesday. The company has a market cap of $156.62 million, a PE ratio of -1.29 and a beta of 2.05. The business has a 50 day moving average of $4.99 and a 200 day moving average of $6.65. Solid Biosciences has a 52 week low of $3.85 and a 52 week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, research analysts anticipate that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Buying and Selling at Solid Biosciences

In related news, insider Jessie Hanrahan sold 4,610 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 value of $25,816.00. Following the transaction, the insider now directly owns 14,235 shares of the company’s stock, valued at approximately $79,716. This represents a 24.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. The trade was a 22.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,775 shares of company stock worth $140,008. 13.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd bought a new stake in Solid Biosciences in the 2nd quarter worth about $58,000. The Manufacturers Life Insurance Company bought a new stake in shares of Solid Biosciences in the third quarter worth approximately $71,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences in the second quarter worth approximately $76,000. Algert Global LLC purchased a new position in shares of Solid Biosciences during the second quarter valued at approximately $82,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Solid Biosciences during the second quarter valued at approximately $92,000. 81.46% of the stock is owned by institutional investors.

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.