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

Research analysts at Truist Financial started coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $16.00 price target on the stock. Truist Financial’s target price indicates a potential upside of 308.16% from the company’s current price.

SLDB has been the topic of several other research reports. JMP Securities initiated coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, December 12th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $15.30.

Solid Biosciences Stock Down 4.4 %

Shares of NASDAQ SLDB opened at $3.92 on Wednesday. The business has a 50-day simple moving average of $4.99 and a two-hundred day simple moving average of $6.65. Solid Biosciences has a 52 week low of $3.85 and a 52 week high of $15.05. The company has a market cap of $156.62 million, a P/E ratio of -1.29 and a beta of 2.05.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors have recently bought and sold shares of SLDB. Bank of New York Mellon Corp bought a new stake in Solid Biosciences in the second quarter valued at approximately $392,000. Rhumbline Advisers bought a new stake in Solid Biosciences during the 2nd quarter valued at $191,000. Acadian Asset Management LLC purchased a new stake in Solid Biosciences during the 2nd quarter valued at $379,000. Ground Swell Capital LLC purchased a new stake in Solid Biosciences during the 2nd quarter valued at $76,000. Finally, American Century Companies Inc. grew its holdings in Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after acquiring an additional 9,853 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other 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.