Solid Biosciences (NASDAQ:SLDB) Shares Gap Up to $14.25

Solid Biosciences Inc. (NASDAQ:SLDB)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $14.25, but opened at $14.82. Solid Biosciences shares last traded at $13.80, with a volume of 61,168 shares changing hands.

Analyst Upgrades and Downgrades

SLDB has been the topic of several analyst reports. Citigroup began coverage on Solid Biosciences in a research report on Friday, March 15th. They set a “buy” rating and a $16.00 price target on the stock. Barclays boosted their price target on shares of Solid Biosciences from $8.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $20.00 in a report on Thursday, March 14th. William Blair reaffirmed an “outperform” rating on shares of Solid Biosciences in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Solid Biosciences currently has a consensus rating of “Buy” and a consensus price target of $18.25.

Solid Biosciences Stock Performance

The company has a current ratio of 8.94, a quick ratio of 8.94 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $9.82 and its two-hundred day moving average is $5.83. The company has a market cap of $492.77 million, a PE ratio of -2.73 and a beta of 1.88.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.01. On average, equities research analysts anticipate that Solid Biosciences Inc. will post -2.52 EPS for the current year.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, Director Perceptive Advisors Llc acquired 3,410,713 shares of the business’s stock in a transaction dated Thursday, January 11th. The shares were purchased at an average price of $5.53 per share, for a total transaction of $18,861,242.89. Following the completion of the purchase, the director now directly owns 6,833,539 shares of the company’s stock, valued at $37,789,470.67. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Perceptive Advisors Llc acquired 3,410,713 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were acquired at an average cost of $5.53 per share, with a total value of $18,861,242.89. Following the completion of the acquisition, 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 legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin Tan sold 3,935 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the completion of the sale, the chief financial officer now owns 9,308 shares of the company’s stock, valued at $76,325.60. The disclosure for this sale can be found here. Insiders have sold 5,216 shares of company stock worth $39,430 over the last 90 days. 19.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new position in Solid Biosciences in the second quarter worth approximately $28,000. Atria Wealth Solutions Inc. purchased a new position in Solid Biosciences in the second quarter worth approximately $33,000. Charles Schwab Investment Management Inc. purchased a new position in Solid Biosciences in the first quarter worth approximately $47,000. CIBC Asset Management Inc purchased a new stake in shares of Solid Biosciences during the 1st quarter worth approximately $57,000. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Solid Biosciences during the 1st quarter worth approximately $78,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

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.