Recent Research Analysts’ Ratings Updates for Solid Biosciences (SLDB)

Several brokerages have updated their recommendations and price targets on shares of Solid Biosciences (NASDAQ: SLDB) in the last few weeks:

• 3/28/2024 – Solid Biosciences had its “outperform” rating reaffirmed by analysts at William Blair.
• 3/18/2024 – Solid Biosciences had its price target raised by analysts at Barclays PLC from $8.00 to $21.00. They now have an “overweight” rating on the stock.
• 3/15/2024 – Solid Biosciences is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $16.00 price target on the stock.
• 3/14/2024 – Solid Biosciences was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $20.00 price target on the stock, up previously from $8.00.
• 3/14/2024 – 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 Trading Down 8.7 %

Shares of Solid Biosciences stock traded down $1.24 during midday trading on Thursday, reaching $13.01. 253,972 shares of the company’s stock traded hands, compared to its average volume of 357,330. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.94 and a current ratio of 8.94. The stock has a 50 day moving average of $9.82 and a 200-day moving average of $5.83. The company has a market cap of $491.26 million, a PE ratio of -2.69 and a beta of 1.88. Solid Biosciences Inc. has a 12 month low of $1.81 and a 12 month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.01) by $0.01. As a group, equities analysts expect that Solid Biosciences Inc. will post -2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Perceptive Advisors Llc purchased 3,410,713 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were purchased at an average cost of $5.53 per share, for a total transaction of $18,861,242.89. Following the purchase, the director now directly owns 6,833,539 shares in the company, valued at approximately $37,789,470.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Kevin Tan sold 3,935 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $8.20, for a total value of $32,267.00. Following the transaction, the chief financial officer now owns 9,308 shares of the company’s stock, valued at $76,325.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Perceptive Advisors Llc acquired 3,410,713 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were bought at an average price of $5.53 per share, with a total value of $18,861,242.89. Following the completion of the purchase, 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. In the last 90 days, insiders sold 5,216 shares of company stock valued at $39,430. 19.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Solid Biosciences by 0.8% during the third quarter. Vanguard Group Inc. now owns 250,060 shares of the company’s stock valued at $630,000 after purchasing an additional 2,018 shares in the last quarter. Geode Capital Management LLC raised its holdings in Solid Biosciences by 7.2% during the 1st quarter. Geode Capital Management LLC now owns 41,911 shares of the company’s stock valued at $199,000 after buying an additional 2,830 shares during the period. Dimensional Fund Advisors LP lifted its position in Solid Biosciences by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 62,164 shares of the company’s stock worth $326,000 after buying an additional 5,829 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Solid Biosciences during the first quarter worth $47,000. Finally, CIBC Asset Management Inc bought a new position in Solid Biosciences during the first quarter valued at $57,000. 81.46% of the stock is owned by institutional investors.

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.