Investment Analysts’ Recent Ratings Changes for Solid Biosciences (SLDB)

A number of research firms have changed their ratings and price targets for Solid Biosciences (NASDAQ: SLDB):

• 12/13/2024 – Solid Biosciences is now covered by analysts at Wedbush. They set an “outperform” rating and a $16.00 price target on the stock.
• 12/12/2024 – Solid Biosciences was upgraded by analysts at Wedbush to a “strong-buy” rating.
• 12/12/2024 – Solid Biosciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $16.00 price target on the stock.
• 12/10/2024 – Solid Biosciences was upgraded by analysts at Citizens Jmp to a “strong-buy” rating.
• 12/10/2024 – Solid Biosciences is now covered by analysts at JMP Securities. They set an “outperform” rating and a $15.00 price target on the stock.
• 11/12/2024 – Solid Biosciences had its price target lowered by analysts at JPMorgan Chase & Co. from $15.00 to $12.00. They now have an “overweight” rating on the stock.
• 11/11/2024 – Solid Biosciences had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $15.00 price target on the stock.
• 11/7/2024 – Solid Biosciences had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $16.00 price target on the stock.

Solid Biosciences Price Performance

Shares of SLDB stock traded down $0.21 on Tuesday, hitting $3.86. 147,114 shares of the stock traded hands, compared to its average volume of 342,553. Solid Biosciences Inc. has a 52 week low of $3.85 and a 52 week high of $15.05. The firm has a 50 day simple moving average of $5.19 and a two-hundred day simple moving average of $6.78. The firm has a market cap of $154.23 million, a price-to-earnings ratio of -1.27 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Sell-side analysts forecast that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Insider Activity at Solid Biosciences

In other news, COO David T. Howton sold 5,072 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the completion of the sale, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at approximately $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,719 shares of company stock valued at $135,457. 13.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in Solid Biosciences in the third quarter worth about $71,000. Point72 DIFC Ltd bought a new position in shares of Solid Biosciences during the second quarter valued at approximately $58,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences during the second quarter valued at approximately $76,000. MetLife Investment Management LLC raised its stake in Solid Biosciences by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after buying an additional 7,719 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Solid Biosciences during the second quarter worth $82,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.