Solid Biosciences (NASDAQ:SLDB) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Solid Biosciences (NASDAQ:SLDBFree Report) from a neutral rating to an overweight rating in a report published on Thursday, Marketbeat Ratings reports. They currently have $20.00 price objective on the stock, up from their previous price objective of $8.00.

Separately, HC Wainwright started coverage on Solid Biosciences in a research note on Friday, December 8th. They issued a buy rating and a $9.00 price objective on the stock.

View Our Latest Analysis on SLDB

Solid Biosciences Price Performance

Solid Biosciences stock opened at $13.08 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.38 and a current ratio of 9.38. The firm has a market cap of $263.92 million, a P/E ratio of -2.70 and a beta of 1.88. The business’s fifty day moving average is $8.86 and its two-hundred day moving average is $5.28. Solid Biosciences has a 52 week low of $1.81 and a 52 week high of $14.48.

Insider Transactions at Solid Biosciences

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

Institutional Trading of Solid Biosciences

Several hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. acquired a new position in shares of Solid Biosciences during the 2nd quarter worth $28,000. Atria Wealth Solutions Inc. bought a new stake in Solid Biosciences during the 2nd quarter worth $33,000. Charles Schwab Investment Management Inc. bought a new stake in Solid Biosciences during the 1st quarter worth $47,000. CIBC Asset Management Inc bought a new stake in shares of Solid Biosciences in the 1st quarter valued at about $57,000. Finally, Mirabella Financial Services LLP bought a new stake in shares of Solid Biosciences in the 1st quarter valued at about $78,000. 81.46% of the stock is owned by institutional investors and hedge funds.

About Solid Biosciences

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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.

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