Solid Biosciences (NASDAQ:SLDB) Now Covered by JMP Securities

Analysts at JMP Securities initiated coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $15.00 price target on the stock. JMP Securities’ price objective points to a potential upside of 193.54% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lowered their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. William Blair raised Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Solid Biosciences currently has an average rating of “Buy” and a consensus price target of $15.13.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $5.11 on Tuesday. Solid Biosciences has a 52 week low of $3.80 and a 52 week high of $15.05. The firm has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $7.14. The firm has a market cap of $204.20 million, a price-to-earnings ratio of -1.68 and a beta of 2.01.

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

Insider Buying and Selling at Solid Biosciences

In related news, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the sale, the chief executive officer now owns 38,484 shares in the company, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $25,816.00. Following the sale, the insider now directly owns 14,235 shares of the company’s stock, valued at $79,716. This represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,719 shares of company stock valued at $135,457 in the last quarter. 13.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLDB. Point72 DIFC Ltd purchased a new position in Solid Biosciences in the 2nd quarter worth approximately $58,000. The Manufacturers Life Insurance Company bought a new stake in shares of Solid Biosciences during the 3rd quarter worth $71,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the second quarter worth $76,000. Algert Global LLC bought a new position in Solid Biosciences in the second quarter valued at $82,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Solid Biosciences during the 2nd quarter valued at about $92,000. 81.46% of the stock is currently owned by institutional investors.

About Solid Biosciences

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.