Solid Biosciences (NASDAQ:SLDB) Shares Gap Up to $14.25

Solid Biosciences Inc. (NASDAQ:SLDB)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $14.25, but opened at $14.82. Solid Biosciences shares last traded at $13.80, with a volume of 61,168 shares.

Wall Street Analysts Forecast Growth

SLDB has been the topic of several recent research reports. Barclays upped their price target on shares of Solid Biosciences from $8.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Piper Sandler upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $20.00 in a report on Thursday, March 14th. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, March 14th. William Blair restated an “outperform” rating on shares of Solid Biosciences in a report on Thursday. Finally, Citigroup started coverage on Solid Biosciences in a report on Friday, March 15th. They set a “buy” rating and a $16.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Solid Biosciences presently has a consensus rating of “Buy” and a consensus price target of $18.25.

Solid Biosciences Stock Performance

The company has a quick ratio of 8.94, a current ratio of 8.94 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $9.82 and a 200 day simple moving average of $5.83. The company has a market capitalization of $492.77 million, a price-to-earnings ratio of -2.73 and a beta of 1.88.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.01. As a group, analysts anticipate that Solid Biosciences Inc. will post -2.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Solid Biosciences

In other news, Director Perceptive Advisors Llc bought 3,410,713 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were bought at an average cost of $5.53 per share, with a total value of $18,861,242.89. Following the purchase, the director now directly owns 6,833,539 shares in the company, valued at $37,789,470.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Solid Biosciences news, Director Perceptive Advisors Llc acquired 3,410,713 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was purchased at an average cost of $5.53 per share, for a total transaction of $18,861,242.89. Following the completion of the acquisition, the director now owns 6,833,539 shares of the company’s stock, valued at approximately $37,789,470.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Tan sold 3,935 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the transaction, the chief financial officer now directly owns 9,308 shares of the company’s stock, valued at approximately $76,325.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,216 shares of company stock valued at $39,430. Corporate insiders own 19.33% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great Point Partners LLC grew its position in shares of Solid Biosciences by 177.8% in the 2nd quarter. Great Point Partners LLC now owns 584,458 shares of the company’s stock valued at $3,063,000 after acquiring an additional 374,053 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Solid Biosciences by 41.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 51,057 shares of the company’s stock valued at $313,000 after acquiring an additional 15,000 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Solid Biosciences during the 4th quarter worth about $300,000. XTX Topco Ltd boosted its holdings in shares of Solid Biosciences by 582.0% during the 1st quarter. XTX Topco Ltd now owns 197,756 shares of the company’s stock worth $237,000 after buying an additional 168,759 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Solid Biosciences by 8.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 383,022 shares of the company’s stock worth $236,000 after buying an additional 30,612 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in developing therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a next-generation gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne); AVB-202-TT, a gene therapy program for the treatment of Friedreich's ataxia; AVB-401, a gene therapy program for the treatment of BAG3-mediated dilated cardiomyopathy; and other drugs for the treatment of undisclosed cardiac diseases.