Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) Target Price at $14.70

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $14.70.

SLDB has been the subject of a number of research analyst reports. Barclays set a $9.00 price target on Solid Biosciences and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Needham & Company LLC reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Monday, February 9th. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th.

Insider Transactions at Solid Biosciences

In related news, CEO Alexander Cumbo sold 80,258 shares of Solid Biosciences stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $516,861.52. Following the completion of the sale, the chief executive officer owned 270,931 shares of the company’s stock, valued at $1,744,795.64. The trade was a 22.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessie Hanrahan sold 26,535 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $170,885.40. Following the transaction, the insider directly owned 82,675 shares of the company’s stock, valued at $532,427. This represents a 24.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 620,596 shares of company stock valued at $3,933,687. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Siren L.L.C. boosted its holdings in Solid Biosciences by 3.7% in the fourth quarter. Siren L.L.C. now owns 7,690,405 shares of the company’s stock valued at $43,374,000 after purchasing an additional 274,500 shares during the last quarter. Vestal Point Capital LP lifted its holdings in shares of Solid Biosciences by 95.5% in the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after buying an additional 2,840,000 shares during the period. Armistice Capital LLC boosted its stake in shares of Solid Biosciences by 179.1% in the fourth quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after buying an additional 1,676,000 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in Solid Biosciences by 505.4% during the second quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after acquiring an additional 1,421,968 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in Solid Biosciences by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after acquiring an additional 41,984 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Stock Down 1.3%

NASDAQ:SLDB opened at $6.21 on Thursday. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $7.37. The firm has a 50 day moving average of $6.01 and a 200 day moving average of $5.66. The stock has a market capitalization of $483.82 million, a price-to-earnings ratio of -2.49 and a beta of 2.67.

Solid Biosciences Company Profile

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.