Solid Biosciences’ (SLDB) Outperform Rating Reaffirmed at William Blair

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “outperform” rating reiterated by William Blair in a research note issued to investors on Thursday, Marketbeat Ratings reports.

SLDB has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, March 14th. Barclays boosted their target price on shares of Solid Biosciences from $8.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. Citigroup initiated coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Piper Sandler raised shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $20.00 in a research note on Thursday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $18.25.

Solid Biosciences Stock Up 3.5 %

NASDAQ:SLDB traded up $0.42 during mid-day trading on Thursday, reaching $12.52. The stock had a trading volume of 134,409 shares, compared to its average volume of 358,958. The stock has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $6.12. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.94 and a current ratio of 8.94. Solid Biosciences 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.01. On average, research analysts anticipate that Solid Biosciences will post -2.57 EPS for the current year.

Insider Transactions at Solid Biosciences

In other news, CFO Kevin Tan sold 3,935 shares of Solid Biosciences stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the transaction, the chief financial officer now owns 9,308 shares in the company, valued at $76,325.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Kevin Tan sold 3,935 shares of Solid Biosciences stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the transaction, the chief financial officer now owns 9,308 shares in the company, valued at $76,325.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Perceptive Advisors Llc bought 3,410,713 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was purchased at an average price of $5.53 per share, for a total transaction of $18,861,242.89. Following the acquisition, the director now owns 6,833,539 shares of the company’s stock, valued at $37,789,470.67. The disclosure for this purchase can be found here. 19.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Solid Biosciences

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

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.