Solid Biosciences Inc (NASDAQ:SLDB) shot up 2.3% on Thursday . The stock traded as high as $12.10 and last traded at $12.27, 15,161 shares changed hands during trading. A decline of 96% from the average session volume of 368,024 shares. The stock had previously closed at $12.00.
Several brokerages have weighed in on SLDB. ValuEngine raised Solid Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Leerink Swann raised Solid Biosciences from a “market perform” rating to an “outperform” rating in a report on Monday, August 19th. Zacks Investment Research downgraded Solid Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday. Citigroup downgraded Solid Biosciences from a “neutral” rating to a “sell” rating and set a $6.00 target price on the stock. in a research report on Thursday, August 29th. Finally, Evercore ISI assumed coverage on Solid Biosciences in a research report on Friday, October 11th. They set an “outperform” rating and a $22.00 target price on the stock. Three analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $10.86.
The stock has a market cap of $555.91 million, a PE ratio of -5.40 and a beta of 1.91. The firm has a 50-day simple moving average of $10.03 and a 200-day simple moving average of $7.64. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.08.
Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, August 14th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.05. On average, research analysts expect that Solid Biosciences Inc will post -2.85 earnings per share for the current year.
In related news, Director Life Sciences Maste Perceptive bought 2,822,581 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of $4.65 per share, for a total transaction of $13,125,001.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 31.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Solid Biosciences by 10.9% in the second quarter. BlackRock Inc. now owns 1,328,852 shares of the company’s stock worth $7,640,000 after buying an additional 130,516 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Solid Biosciences by 11.7% in the second quarter. Vanguard Group Inc. now owns 830,325 shares of the company’s stock worth $4,774,000 after buying an additional 87,016 shares in the last quarter. EcoR1 Capital LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth $4,755,000. Northern Trust Corp raised its position in shares of Solid Biosciences by 3.2% in the second quarter. Northern Trust Corp now owns 170,509 shares of the company’s stock worth $981,000 after buying an additional 5,332 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Solid Biosciences by 55.9% in the second quarter. Renaissance Technologies LLC now owns 150,300 shares of the company’s stock worth $864,000 after buying an additional 53,900 shares in the last quarter. Institutional investors own 46.24% of the company’s stock.
About Solid Biosciences (NASDAQ:SLDB)
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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