Shares of Solid Biosciences Inc (NASDAQ:SLDB) have been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $9.25.
Several brokerages have recently commented on SLDB. Zacks Investment Research downgraded Solid Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 26th. Chardan Capital upped their target price on Solid Biosciences from $5.00 to $12.50 and gave the company a “buy” rating in a report on Thursday. Finally, SVB Leerink downgraded Solid Biosciences from an “outperform” rating to a “market perform” rating and set a $3.00 target price for the company. in a report on Monday, July 27th.
Shares of NASDAQ SLDB traded up $2.57 during mid-day trading on Monday, hitting $4.60. 3,827,902 shares of the company traded hands, compared to its average volume of 320,744. Solid Biosciences has a 1 year low of $1.93 and a 1 year high of $13.58. The stock has a market capitalization of $93.59 million, a price-to-earnings ratio of -1.96 and a beta of 1.04. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $2.39 and a two-hundred day moving average of $2.68.
Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. As a group, research analysts anticipate that Solid Biosciences will post -1.44 EPS for the current year.
In related news, CEO Ilan Ganot sold 11,124 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $2.42, for a total value of $26,920.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 18,756 shares of company stock valued at $45,390. Company insiders own 33.12% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Solid Biosciences by 14.4% in the 1st quarter. Bank of New York Mellon Corp now owns 83,523 shares of the company’s stock valued at $199,000 after acquiring an additional 10,515 shares during the last quarter. State Street Corp raised its position in Solid Biosciences by 2.6% during the 1st quarter. State Street Corp now owns 357,274 shares of the company’s stock worth $854,000 after purchasing an additional 8,977 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Solid Biosciences by 151.1% during the 1st quarter. JPMorgan Chase & Co. now owns 270,293 shares of the company’s stock worth $646,000 after acquiring an additional 162,662 shares during the period. GSA Capital Partners LLP acquired a new stake in Solid Biosciences during the 1st quarter worth about $48,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Solid Biosciences during the 1st quarter worth about $35,000. 58.10% of the stock is owned by institutional investors.
Solid Biosciences Company Profile
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.
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