Truist Financial Begins Coverage on Solid Biosciences (NASDAQ:SLDB)

Research analysts at Truist Financial began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $16.00 price target on the stock. Truist Financial’s price target would suggest a potential upside of 297.02% from the company’s previous close.

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

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB opened at $4.03 on Wednesday. The business’s 50-day simple moving average is $4.95 and its 200-day simple moving average is $6.64. Solid Biosciences has a 52 week low of $3.85 and a 52 week high of $15.05. The firm has a market cap of $161.02 million, a price-to-earnings ratio of -1.33 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, equities research analysts forecast that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Buying and Selling at Solid Biosciences

In related news, COO David T. Howton sold 5,072 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 value of $28,403.20. Following the sale, the chief operating officer now owns 15,663 shares of the company’s stock, valued at $87,712.80. The trade was a 24.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction on Tuesday, December 3rd. The stock was 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 of the company’s stock, valued at $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,775 shares of company stock valued at $140,008 in the last 90 days. 13.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in SLDB. Bank of New York Mellon Corp bought a new position in Solid Biosciences during the 2nd quarter valued at about $392,000. Rhumbline Advisers bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $191,000. Acadian Asset Management LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter worth approximately $379,000. Ground Swell Capital LLC bought a new stake in Solid Biosciences during the 2nd quarter worth approximately $76,000. Finally, American Century Companies Inc. increased its holdings in Solid Biosciences by 39.9% during the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after purchasing an additional 9,853 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.