Credit Suisse Group lowered shares of Solid Biosciences (NASDAQ:SLDB) from a neutral rating to an underperform rating in a research note released on Tuesday morning, Benzinga reports. Credit Suisse Group currently has $6.00 price objective on the stock, down from their prior price objective of $7.00.
Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Solid Biosciences from a hold rating to a buy rating in a research report on Tuesday, March 19th. Zacks Investment Research upgraded shares of Solid Biosciences from a hold rating to a buy rating and set a $8.25 price objective for the company in a report on Wednesday, February 13th. Chardan Capital restated a buy rating and issued a $15.00 price objective on shares of Solid Biosciences in a report on Thursday, February 7th. Svb Leerink cut shares of Solid Biosciences from an outperform rating to a market perform rating in a report on Friday, February 8th. Finally, Leerink Swann cut shares of Solid Biosciences from an outperform rating to a market perform rating in a report on Thursday, February 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Solid Biosciences has an average rating of Hold and a consensus price target of $19.82.
Shares of SLDB opened at $6.04 on Tuesday. Solid Biosciences has a 1-year low of $5.23 and a 1-year high of $54.84. The stock has a market cap of $209.25 million, a price-to-earnings ratio of -2.68 and a beta of 1.68. The company has a quick ratio of 10.31, a current ratio of 6.99 and a debt-to-equity ratio of 0.07.
In related news, Director Juan Andrey Zarur sold 8,000 shares of Solid Biosciences stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $10.00, for a total value of $80,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Boxer Capital, Llc sold 450,000 shares of Solid Biosciences stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $9.88, for a total transaction of $4,446,000.00. The disclosure for this sale can be found here. Insiders own 31.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in SLDB. Flinton Capital Management LLC purchased a new position in Solid Biosciences in the fourth quarter worth approximately $47,000. Legal & General Group Plc lifted its stake in Solid Biosciences by 47.8% in the third quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock worth $86,000 after acquiring an additional 590 shares during the last quarter. First Manhattan Co. lifted its stake in Solid Biosciences by 100.0% in the fourth quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock worth $53,000 after acquiring an additional 1,000 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Solid Biosciences in the fourth quarter worth approximately $83,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Solid Biosciences by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,160 shares of the company’s stock worth $111,000 after acquiring an additional 3,249 shares during the last quarter. Hedge funds and other institutional investors own 63.39% of the company’s stock.
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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