Solid Biosciences (NASDAQ:SLDB) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.

A number of other equities analysts have also issued reports on the stock. Chardan Capital lowered shares of Solid Biosciences from a buy rating to a neutral rating and reduced their price target for the stock from $15.00 to $7.50 in a research report on Tuesday, May 14th. Citigroup set a $6.00 price target on shares of Solid Biosciences and gave the stock a hold rating in a research report on Thursday, May 16th. Goldman Sachs Group lowered shares of Solid Biosciences from a neutral rating to a sell rating and reduced their price target for the stock from $5.00 to $4.00 in a research report on Tuesday, May 14th. Zacks Investment Research raised shares of Solid Biosciences from a sell rating to a hold rating in a research report on Wednesday, July 17th. Finally, Credit Suisse Group lowered shares of Solid Biosciences from a neutral rating to an underperform rating and reduced their price target for the stock from $7.00 to $6.00 in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $6.35.

SLDB traded down $0.12 during trading on Thursday, reaching $5.86. 9,053 shares of the company’s stock were exchanged, compared to its average volume of 534,330. Solid Biosciences has a 1 year low of $4.32 and a 1 year high of $54.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a market capitalization of $211.75 million, a PE ratio of -2.61 and a beta of 2.07. The stock has a fifty day moving average of $5.20.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Monday, May 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.22). As a group, analysts predict that Solid Biosciences will post -3.09 earnings per share for the current fiscal year.

In other 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 transaction of $80,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Life Sciences Maste Perceptive bought 2,822,581 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were purchased at an average cost of $4.65 per share, with a total value of $13,125,001.65. The disclosure for this purchase can be found here. 31.20% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new position in shares of Solid Biosciences during the 4th quarter valued at approximately $83,000. Geode Capital Management LLC increased its holdings in shares of Solid Biosciences by 25.4% during the 4th quarter. Geode Capital Management LLC now owns 168,090 shares of the company’s stock valued at $4,504,000 after purchasing an additional 34,060 shares in the last quarter. Emory University increased its holdings in shares of Solid Biosciences by 335.0% during the 1st quarter. Emory University now owns 298,887 shares of the company’s stock valued at $2,750,000 after purchasing an additional 230,173 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Solid Biosciences during the 1st quarter valued at approximately $186,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Solid Biosciences by 35.7% during the 4th quarter. Bank of New York Mellon Corp now owns 56,703 shares of the company’s stock valued at $1,520,000 after purchasing an additional 14,925 shares in the last quarter. 59.23% of the stock is owned by hedge funds and other institutional investors.

About Solid Biosciences

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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