Shares of Solid Biosciences Inc (NASDAQ:SLDB) have been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $32.71.
A number of brokerages have commented on SLDB. Zacks Investment Research upgraded shares of Solid Biosciences from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, October 17th. Citigroup assumed coverage on shares of Solid Biosciences in a research note on Tuesday, November 6th. They set a “sell” rating and a $25.00 target price on the stock. BTIG Research assumed coverage on shares of Solid Biosciences in a report on Monday, December 10th. They issued a “neutral” rating for the company. Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Thursday. Finally, Leerink Swann downgraded shares of Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Thursday.
Shares of SLDB stock traded up $0.01 during trading on Wednesday, hitting $7.43. The company’s stock had a trading volume of 5,508 shares, compared to its average volume of 1,180,182. Solid Biosciences has a 52 week low of $5.97 and a 52 week high of $54.84. The firm has a market cap of $262.91 million and a PE ratio of -2.59.
In other news, insider Joel Solomon Zev Schneider sold 21,990 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $30.84, for a total value of $678,171.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Pedro Alvaro Amorrortu sold 9,000 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $30.83, for a total transaction of $277,470.00. The disclosure for this sale can be found here. Insiders sold a total of 149,240 shares of company stock valued at $4,614,793 in the last quarter.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in shares of Solid Biosciences by 58.2% during the second quarter. Bank of New York Mellon Corp now owns 31,889 shares of the company’s stock worth $1,137,000 after buying an additional 11,726 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Solid Biosciences by 7.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 38,011 shares of the company’s stock worth $1,355,000 after purchasing an additional 2,658 shares during the last quarter. FMR LLC bought a new stake in shares of Solid Biosciences in the second quarter worth about $2,161,000. Northern Trust Corp grew its stake in shares of Solid Biosciences by 21.2% in the second quarter. Northern Trust Corp now owns 111,215 shares of the company’s stock worth $3,963,000 after purchasing an additional 19,442 shares during the last quarter. Finally, Matisse Capital bought a new stake in shares of Solid Biosciences in the third quarter worth about $382,000. 63.59% of the stock is currently owned by hedge funds and other institutional investors.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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