Solid Biosciences’ (SLDB) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Thursday morning. Chardan Capital currently has a $15.00 price objective on the stock.

SLDB has been the topic of several other research reports. Citigroup initiated coverage on shares of Solid Biosciences in a research note on Tuesday, November 6th. They issued a sell rating and a $25.00 price target on the stock. Zacks Investment Research upgraded shares of Solid Biosciences from a hold rating to a buy rating and set a $36.00 price objective on the stock in a research note on Wednesday, October 17th. Finally, BTIG Research started coverage on shares of Solid Biosciences in a research note on Monday, December 10th. They set a neutral rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Solid Biosciences currently has an average rating of Hold and an average target price of $35.00.

Shares of SLDB stock opened at $7.42 on Thursday. Solid Biosciences has a one year low of $5.97 and a one year high of $54.84. The stock has a market cap of $262.91 million and a PE ratio of -2.58.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, November 13th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.01. On average, research analysts forecast that Solid Biosciences will post -2.21 EPS for the current fiscal year.

In related news, COO Pedro Alvaro Amorrortu sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $30.83, for a total value of $277,470.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joel Solomon Zev Schneider sold 21,990 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $30.84, for a total transaction of $678,171.60. The disclosure for this sale can be found here. Insiders have sold 149,240 shares of company stock valued at $4,614,793 over the last 90 days.

A number of institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC purchased a new stake in Solid Biosciences in the 4th quarter worth approximately $21,109,000. Janus Henderson Group PLC purchased a new stake in Solid Biosciences in the 3rd quarter worth approximately $24,288,000. BlackRock Inc. lifted its position in Solid Biosciences by 56.0% in the 4th quarter. BlackRock Inc. now owns 1,214,410 shares of the company’s stock worth $32,546,000 after buying an additional 436,161 shares in the last quarter. Partner Fund Management L.P. lifted its position in Solid Biosciences by 70.4% in the 3rd quarter. Partner Fund Management L.P. now owns 799,777 shares of the company’s stock worth $37,733,000 after buying an additional 330,410 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in Solid Biosciences by 82.0% in the 3rd quarter. Vanguard Group Inc now owns 675,180 shares of the company’s stock worth $31,855,000 after buying an additional 304,286 shares in the last quarter. 63.59% of the stock is owned by hedge funds and other institutional investors.

About Solid Biosciences

Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.

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