Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.30 Average PT from Analysts

On February 19, 2025, Solid Biosciences Inc. (NASDAQ:SLDB) garnered positive attention from market analysts, achieving a consensus recommendation of "Buy". Currently, thirteen analysts are actively covering Solid Biosciences, with nine of them issuing buy ratings and four providing strong buy ratings. The projected average price target for the next twelve months stands at $15.30.

Recently, several equity analysts provided their insights regarding Solid Biosciences. For instance, Wedbush initiated their coverage on December 13th, assigning an "outperform" rating with a price target of $16.00. Chardan Capital reaffirmed a "buy" rating on November 11th, setting a price target of $15.00. Additionally, JMP Securities also began coverage, reporting an "outperform" rating with a $15.00 target. However, it’s worth noting that on November 12th, JPMorgan Chase & Co. reduced their price target from $15.00 to $12.00 while maintaining an "overweight" rating. Truist Financial added to the mix by starting coverage on January 8th, issuing a “buy” rating with a price objective of $16.00.

Solid Biosciences Stock Overview

On the trading day of February 19, 2025, shares of Solid Biosciences opened at $5.30. The company has a market capitalization of approximately $211.79 million, with a price-to-earnings (PE) ratio of -1.74 and a beta of 2.01. The stock’s 50-day moving average price is $3.75, while the 200-day moving average stands at $5.79. Over the past year, Solid Biosciences experienced a low of $2.88 and reached a high of $15.05.

Insider Transactions at Solid Biosciences

In recent developments, COO David T. Howton sold 5,072 shares of the company's stock on December 3rd at an average price of $5.60, totaling around $28,403. Following this transaction, Howton holds 15,663 shares valued close to $87,712.80, reflecting a 24.46% reduction in his ownership. Similarly, CEO Alexander Cumbo sold 11,114 shares on the same day at the same average price, which amounted to approximately $62,238.40. Post-sale, Cumbo retains 38,484 shares, valued around $215,510.40, resulting in a 22.41% decrease in his position. In total, insiders have sold 26,069 shares worth $137,301 in the past 90 days, with insiders owning approximately 13.63% of the company's total stock.

Institutional Investor Activity

Many institutional investors have also made significant changes to their holdings in Solid Biosciences. In the fourth quarter, JPMorgan Chase & Co. increased its stake by a staggering 9,393.8%, acquiring an additional 945,863 shares, bringing their total to 955,932 shares valued at $3.82 million. Other notable transactions include Redmile Group LLC acquiring a new stake worth $2.46 million, and Point72 Asset Management L.P. increasing their stake by 292.8%, owning now 443,010 shares worth $3.09 million. Dimensional Fund Advisors LP and Trexquant Investment LP also made substantial increases to their holdings during the same period. Overall, institutional investors and hedge funds collectively own approximately 81.46% of Solid Biosciences' stock.

About Solid Biosciences

Solid Biosciences Inc. is a life sciences company dedicated to developing innovative therapies for neuromuscular and cardiac diseases across the United States. The company’s primary product candidate is SGT-003, aimed at treating Duchenne muscular dystrophy, along with SGT-501, designed for treating Catecholaminergic polymorphic ventricular tachycardia.

Solid, Biosciences, SLDB