Solid Biosciences (SLDB) PT Raised to $31.00 at Citigroup
Solid Biosciences (NASDAQ:SLDB) had its price target boosted by Citigroup from $25.00 to $31.00 in a research report sent to investors on Monday, The Fly reports. They currently have a sell rating on the stock.
A number of other research firms also recently issued reports on SLDB. Credit Suisse Group assumed coverage on shares of Solid Biosciences in a research report on Thursday, September 6th. They set a neutral rating and a $38.00 target price on the stock. Zacks Investment Research upgraded shares of Solid Biosciences from a sell rating to a hold rating in a research note on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $42.56.
Solid Biosciences stock opened at $28.68 on Monday. Solid Biosciences has a 12-month low of $6.83 and a 12-month high of $54.84. The firm has a market cap of $1.01 billion and a P/E ratio of -9.96.
In other Solid Biosciences news, CEO Ilan Ganot sold 50,000 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $30.84, for a total transaction of $1,542,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jorge Armando Quiroz sold 40,150 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $31.21, for a total transaction of $1,253,081.50. The disclosure for this sale can be found here. Insiders have sold a total of 130,240 shares of company stock valued at $4,033,763 in the last 90 days.
Hedge funds have recently made changes to their positions in the business. Partner Investment Management L.P. bought a new stake in shares of Solid Biosciences in the 2nd quarter worth $134,000. SG Americas Securities LLC bought a new stake in shares of Solid Biosciences in the 3rd quarter worth $227,000. Rhumbline Advisers bought a new stake in shares of Solid Biosciences in the 2nd quarter worth $306,000. Trexquant Investment LP bought a new stake in shares of Solid Biosciences in the 3rd quarter worth $341,000. Finally, American International Group Inc. grew its stake in shares of Solid Biosciences by 36.3% in the 3rd quarter. American International Group Inc. now owns 8,085 shares of the company’s stock worth $381,000 after acquiring an additional 2,154 shares in the last quarter. Institutional investors and hedge funds own 63.59% of the company’s stock.
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.
Further Reading: Analyst Ratings
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