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

Key Points

• Solid Biosciences has a consensus recommendation of Moderate Buy from 13 analysts (1 sell, 11 buy, 1 strong buy) with an average 1‑year price target of $16.09, implying significant upside from the recent price near $8.39.
• Insiders sold a total of 590,915 shares (about $3.78M) over the past 90 days — including Feb. 2 sales by Gabriel Brooks and CFO Kevin Tan — and now own just 1.90% of the company.
• Several hedge funds materially increased positions (Siren, Vestal Point, Armistice, Nantahala), leaving institutional investors with 81.46% ownership; the company has a market cap of roughly $825.5M and reported a slight quarterly EPS beat (‑$0.50 vs. ‑$0.51).

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $16.0909.

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Solid Biosciences from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 25th. Wedbush reiterated an "outperform" rating and issued a $14.00 price target on shares of Solid Biosciences in a research report on Wednesday, March 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Truist Financial upgraded shares of Solid Biosciences to a "strong-buy" rating in a research report on Wednesday, March 25th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $20.00 target price on shares of Solid Biosciences in a report on Monday, March 23rd.

Insiders Place Their Bets

In related news, insider Gabriel Brooks sold 28,335 shares of the business's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $182,477.40. Following the transaction, the insider directly owned 96,708 shares of the company's stock, valued at approximately $622,799.52. The trade was a 22.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin Tan sold 26,837 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $172,830.28. Following the completion of the transaction, the chief financial officer owned 108,984 shares of the company's stock, valued at $701,856.96. The trade was a 19.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 590,915 shares of company stock valued at $3,780,768. Insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds have recently modified their holdings of the stock. Siren L.L.C. boosted its position in shares of Solid Biosciences by 3.7% during the fourth quarter. Siren L.L.C. now owns 7,690,405 shares of the company's stock worth $43,374,000 after acquiring an additional 274,500 shares during the last quarter. Vestal Point Capital LP lifted its stake in Solid Biosciences by 95.5% in the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company's stock worth $32,797,000 after purchasing an additional 2,840,000 shares in the last quarter. Armistice Capital LLC boosted its holdings in shares of Solid Biosciences by 179.1% during the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company's stock valued at $14,732,000 after purchasing an additional 1,676,000 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Solid Biosciences by 505.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company's stock valued at $8,295,000 after purchasing an additional 1,421,968 shares during the last quarter. Finally, Alyeska Investment Group L.P. grew its position in shares of Solid Biosciences by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company's stock valued at $10,383,000 after purchasing an additional 41,984 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $8.39 on Friday. The stock has a market cap of $825.53 million, a P/E ratio of -4.15 and a beta of 2.58. The stock's fifty day moving average is $7.00 and its 200 day moving average is $6.08. Solid Biosciences has a one year low of $2.41 and a one year high of $8.87.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.50) EPS for the quarter, topping analysts' consensus estimates of ($0.51) by $0.01. Analysts predict that Solid Biosciences will post -2.84 EPS for the current year.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company's primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid's lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.

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