Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Rating of "Buy" from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has been given an average recommendation of "Buy" by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.25.

A number of equities research analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and set a $16.00 price target 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. Barclays upped their price objective on shares of Solid Biosciences from $8.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, March 18th. Piper Sandler upgraded shares of Solid Biosciences from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $8.00 to $20.00 in a report on Thursday, March 14th. Finally, Citigroup initiated coverage on shares of Solid Biosciences in a report on Friday, March 15th. They issued a "buy" rating and a $16.00 price objective for the company.

Solid Biosciences Trading Down 6.5 %

Shares of Solid Biosciences stock traded down $0.93 during trading on Thursday, reaching $13.32. The company's stock had a trading volume of 871,448 shares, compared to its average volume of 367,804. Solid Biosciences has a 52-week low of $1.81 and a 52-week high of $15.05. The company has a market cap of $502.96 million, a price-to-earnings ratio of -2.69 and a beta of 1.88. The firm's 50-day moving average is $9.82 and its two-hundred day moving average is $5.83. The company has a quick ratio of 8.94, a current ratio of 8.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.01) by $0.01. On average, sell-side analysts anticipate that Solid Biosciences will post -2.52 earnings per share for the current year.

Insider Transactions at Solid Biosciences

In other news, CFO Kevin Tan sold 3,935 shares of the business's stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total value of $32,267.00. Following the transaction, the chief financial officer now owns 9,308 shares of the company's stock, valued at $76,325.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Perceptive Advisors Llc acquired 3,410,713 shares of the business's stock in a transaction on Thursday, January 11th. The shares were acquired at an average price of $5.53 per share, for a total transaction of $18,861,242.89. Following the completion of the transaction, the director now directly owns 6,833,539 shares of the company's stock, valued at approximately $37,789,470.67. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Tan sold 3,935 shares of the business's stock in a transaction on 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 owns 9,308 shares in the company, valued at approximately $76,325.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,216 shares of company stock valued at $39,430. 19.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. XTX Topco Ltd lifted its stake in Solid Biosciences by 582.0% in the first quarter. XTX Topco Ltd now owns 197,756 shares of the company's stock worth $237,000 after acquiring an additional 168,759 shares during the period. Renaissance Technologies LLC lifted its position in shares of Solid Biosciences by 108.7% during the first quarter. Renaissance Technologies LLC now owns 1,268,575 shares of the company's stock valued at $1,522,000 after buying an additional 660,747 shares during the last quarter. State Street Corp lifted its position in shares of Solid Biosciences by 16.7% during the first quarter. State Street Corp now owns 1,075,937 shares of the company's stock valued at $1,291,000 after buying an additional 153,862 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Solid Biosciences by 29.4% during the first quarter. Alyeska Investment Group L.P. now owns 1,319,245 shares of the company's stock valued at $1,583,000 after buying an additional 300,000 shares during the last quarter. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Solid Biosciences during the first quarter valued at about $78,000. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Company Profile

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.