Solid Biosciences (NASDAQ:SLDB) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Solid Biosciences (NASDAQ:SLDB) from a "sell" to a "hold" in a weekend research note.
• Analyst sentiment remains broadly positive — MarketBeat shows an average rating of "Moderate Buy" with a consensus target price of $16.09, and several firms (e.g., HC Wainwright, Needham, JPMorgan) maintain buy/overweight views and raised targets.
• Insiders sold a total of 596,619 shares valued at about $3.81M in the last 90 days (insiders now own 1.90%); the stock was trading near $8.02 with a market cap around $789M.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently weighed in on SLDB. Citigroup reissued a "market outperform" rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Wedbush reiterated an "outperform" rating and set a $14.00 price target on shares of Solid Biosciences in a report on Wednesday, March 11th. JPMorgan Chase & Co. lifted their price target on shares of Solid Biosciences from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Wednesday, March 25th. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a research note on Monday, March 23rd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 price objective on shares of Solid Biosciences in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $16.09.

Solid Biosciences Trading Down 1.0%

Shares of NASDAQ:SLDB opened at $8.02 on Friday. The stock has a market capitalization of $789.10 million, a PE ratio of -3.97 and a beta of 2.58. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $8.72. The firm has a fifty day moving average price of $6.85 and a 200 day moving average price of $6.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.01. On average, sell-side analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gabriel Brooks sold 28,335 shares of Solid Biosciences stock in a transaction dated 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 in the company, valued at approximately $622,799.52. The trade was a 22.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David T. Howton sold 37,771 shares of Solid Biosciences stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $243,245.24. Following the completion of the transaction, the chief operating officer owned 116,753 shares in the company, valued at $751,889.32. The trade was a 24.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 596,619 shares of company stock valued at $3,810,828 in the last ninety days. Company insiders own 1.90% of the company's stock.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors have recently made changes to their positions in the business. Boxer Capital Management LLC bought a new position in shares of Solid Biosciences in the third quarter worth about $3,702,000. Jain Global LLC bought a new position in shares of Solid Biosciences in the fourth quarter worth about $114,000. Polymer Capital Management US LLC bought a new position in shares of Solid Biosciences in the third quarter worth about $94,000. Russell Investments Group Ltd. increased its stake in shares of Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company's stock worth $63,000 after purchasing an additional 5,991 shares during the period. Finally, Creative Planning bought a new position in shares of Solid Biosciences in the second quarter worth about $57,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Company Profile

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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