Solid Biosciences (NASDAQ:SLDB) Rating Lowered to Sell at Wall Street Zen
by Renee Jackson · The Cerbat GemSolid Biosciences (NASDAQ:SLDB – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.
Other analysts have also recently issued research reports about the company. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Solid Biosciences in a research report on Wednesday, March 11th. JPMorgan Chase & Co. lifted their price objective on Solid Biosciences from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Solid Biosciences in a research report on Monday, March 23rd. Guggenheim began coverage on Solid Biosciences in a research report on Friday, March 20th. They set a “buy” rating and a $26.00 price objective for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Friday, March 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.
Read Our Latest Report on SLDB
Solid Biosciences Trading Down 1.6%
SLDB opened at $8.49 on Friday. The stock has a market cap of $835.33 million, a price-to-earnings ratio of -4.20 and a beta of 2.58. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $8.87. The stock has a fifty day moving average price of $7.08 and a 200 day moving average price of $6.12.
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.01. As a group, sell-side analysts forecast that Solid Biosciences will post -1.6 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, COO David T. Howton sold 7,469 shares of Solid Biosciences stock in a transaction dated 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 directly owned 105,077 shares in the company, valued at approximately $611,548.14. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Tan sold 5,404 shares of Solid Biosciences stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $31,451.28. Following the completion of the transaction, the chief financial officer owned 99,422 shares in the company, valued at $578,636.04. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 590,915 shares of company stock valued at $3,780,768. 13.63% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Solid Biosciences
A number of institutional investors have recently made changes to their positions in the business. Siren L.L.C. increased its stake in shares of Solid Biosciences by 3.7% in the fourth quarter. Siren L.L.C. now owns 7,690,405 shares of the company’s stock worth $43,374,000 after purchasing an additional 274,500 shares during the period. Vestal Point Capital LP increased its stake 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 worth $32,797,000 after purchasing an additional 2,840,000 shares during the period. Armistice Capital LLC increased its stake in shares of Solid Biosciences by 179.1% in the fourth quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after purchasing an additional 1,676,000 shares during the period. Nantahala Capital Management LLC increased its stake in shares of Solid Biosciences by 505.4% in the second quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after purchasing an additional 1,421,968 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake in shares of Solid Biosciences by 2.6% in the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock worth $10,383,000 after purchasing an additional 41,984 shares during the period. 81.46% of the stock is currently owned by institutional investors.
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.