Solid Biosciences (NASDAQ:SLDB) Receives “Buy” Rating from Chardan Capital

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a note issued to investors on Friday,Benzinga reports. They currently have a $15.00 price target on the stock. Chardan Capital’s price target indicates a potential upside of 110.67% from the company’s current price.

SLDB has been the subject of several other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Solid Biosciences in a research note on Wednesday, March 11th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Solid Biosciences in a research report on Friday. Finally, Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $7.12 on Friday. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $8.72. The firm has a market cap of $554.72 million, a PE ratio of -2.86 and a beta of 2.65. The company’s 50 day moving average is $6.40 and its two-hundred day moving average is $5.78.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.05). On average, equities research analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ilan Ganot sold 7,205 shares of Solid Biosciences stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $6.44, for a total value of $46,400.20. Following the transaction, the director directly owned 25,271 shares of the company’s stock, valued at $162,745.24. The trade was a 22.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO David T. Howton sold 7,469 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $43,469.58. Following the sale, the chief operating officer owned 105,077 shares of the company’s stock, valued at $611,548.14. The trade was a 6.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 597,672 shares of company stock valued at $3,816,546 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDB. Legal & General Group Plc lifted its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after acquiring an additional 4,534 shares in the last quarter. Creative Planning purchased a new position in shares of Solid Biosciences in the 2nd quarter valued at $57,000. Russell Investments Group Ltd. raised its stake in shares of Solid Biosciences by 142.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Solid Biosciences by 233.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock valued at $74,000 after acquiring an additional 10,585 shares in the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc is a clinical?stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle?stabilizing protein.

Solid’s lead investigational therapy, SGT?001, is a micro?dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno?associated virus (AAV) vector.