Solid Biosciences Inc. (NASDAQ:SLDB) Receives $18.25 Average Target Price from Analysts

Solid Biosciences Inc. (NASDAQ:SLDBGet Free Report) has been given a consensus recommendation of “Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $18.25.

SLDB has been the topic of a number of recent analyst reports. Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.00 to $20.00 in a report on Thursday, March 14th. Barclays raised their price target 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. Citigroup began coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They set a “buy” rating and a $16.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, March 14th.

Get Our Latest Analysis on Solid Biosciences

Solid Biosciences Price Performance

Shares of Solid Biosciences stock opened at $12.44 on Thursday. The firm has a market cap of $469.73 million, a PE ratio of -2.57 and a beta of 1.93. Solid Biosciences has a 12-month low of $1.81 and a 12-month high of $15.05. The company has a quick ratio of 8.94, a current ratio of 8.94 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $10.13 and its two-hundred day simple moving average is $6.06.

Solid Biosciences (NASDAQ:SLDBGet Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.01. As a group, equities analysts expect that Solid Biosciences will post -2.52 EPS for the current year.

Insider Activity at Solid Biosciences

In related news, CFO Kevin Tan sold 3,935 shares of Solid Biosciences stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the completion of the transaction, the chief financial officer now directly owns 9,308 shares of the company’s stock, valued at approximately $76,325.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Kevin Tan sold 3,935 shares of Solid Biosciences stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the completion of the transaction, the chief financial officer now directly owns 9,308 shares of the company’s stock, valued at approximately $76,325.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Perceptive Advisors Llc purchased 3,410,713 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were acquired at an average cost of $5.53 per share, with a total value of $18,861,242.89. Following the completion of the transaction, the director now owns 6,833,539 shares in the company, valued at $37,789,470.67. The disclosure for this purchase can be found here. Insiders sold a total of 5,216 shares of company stock valued at $39,430 in the last three months. Company insiders own 19.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Solid Biosciences by 29.6% in the fourth quarter. Vanguard Group Inc. now owns 324,171 shares of the company’s stock worth $1,990,000 after buying an additional 74,111 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in Solid Biosciences by 41.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 51,057 shares of the company’s stock worth $313,000 after buying an additional 15,000 shares during the last quarter. Vestal Point Capital LP purchased a new position in Solid Biosciences in the fourth quarter worth about $209,000. Northern Trust Corp raised its holdings in Solid Biosciences by 147.1% in the fourth quarter. Northern Trust Corp now owns 28,257 shares of the company’s stock worth $173,000 after buying an additional 16,823 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Solid Biosciences in the second quarter worth about $488,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

About Solid Biosciences

(Get Free Report

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.

Further Reading

Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

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