Chardan Capital Issues Positive Forecast for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB) had its price objective increased by Chardan Capital from $15.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 201.89% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wedbush began coverage on Solid Biosciences in a report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. JMP Securities initiated coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, Truist Financial assumed coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $15.40.

Solid Biosciences Trading Up 31.5 %

NASDAQ:SLDB opened at $5.30 on Wednesday. The company has a 50-day moving average of $3.75 and a 200-day moving average of $5.79. Solid Biosciences has a twelve month low of $2.88 and a twelve month high of $15.05. The firm has a market cap of $211.79 million, a price-to-earnings ratio of -1.74 and a beta of 2.01.

Insider Activity at Solid Biosciences

In other Solid Biosciences news, 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 transaction of $62,238.40. Following the completion of the transaction, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the transaction, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,069 shares of company stock valued at $137,301 in the last 90 days. 13.63% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Solid Biosciences in the 4th quarter valued at $34,000. Corton Capital Inc. bought a new stake in Solid Biosciences in the fourth quarter valued at about $41,000. Invesco Ltd. acquired a new position in Solid Biosciences in the fourth quarter valued at about $49,000. Sei Investments Co. bought a new position in Solid Biosciences during the fourth quarter worth about $52,000. Finally, Wells Fargo & Company MN grew its position in shares of Solid Biosciences by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock worth $53,000 after buying an additional 2,986 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.