Solid Biosciences (NASDAQ:SLDB – Get Free Report) had its price objective reduced by Wedbush from $17.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 107.12% from the stock’s previous close.
Several other brokerages also recently weighed in on SLDB. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday, March 20th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective (up from $17.00) on shares of Solid Biosciences in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Tuesday, April 21st. Wall Street Zen cut Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, April 19th. Finally, Truist Financial raised Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.36.
View Our Latest Stock Report on SLDB
Solid Biosciences Stock Up 0.1%
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). As a group, sell-side analysts forecast that Solid Biosciences will post -1.59 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Alexander Cumbo sold 16,644 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $96,868.08. Following the completion of the transaction, the chief executive officer owned 235,405 shares of the company’s stock, valued at approximately $1,370,057.10. This represents a 6.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO David T. Howton sold 7,469 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $43,469.58. Following the transaction, the chief operating officer owned 105,077 shares in the company, valued at $611,548.14. This represents a 6.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 39,925 shares of company stock valued at $232,364. 13.63% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Solid Biosciences by 40.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 956,135 shares of the company’s stock worth $6,877,000 after acquiring an additional 277,051 shares in the last quarter. Hsbc Holdings PLC raised its position in Solid Biosciences by 78.4% during the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock worth $284,000 after acquiring an additional 17,360 shares during the period. Invesco Ltd. lifted its holdings in Solid Biosciences by 29.6% during the fourth quarter. Invesco Ltd. now owns 152,126 shares of the company’s stock valued at $858,000 after purchasing an additional 34,758 shares in the last quarter. XTX Topco Ltd purchased a new position in Solid Biosciences during the fourth quarter valued at $201,000. Finally, Vestal Point Capital LP grew its position in shares of Solid Biosciences by 95.5% in the fourth quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after purchasing an additional 2,840,000 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.
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.
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