Solid Biosciences (NASDAQ:SLDB) Shares Gap Up to $5.05

Solid Biosciences Inc (NASDAQ:SLDB)’s share price gapped up before the market opened on Friday . The stock had previously closed at $4.88, but opened at $5.05. Solid Biosciences shares last traded at $5.75, with a volume of 2,893,816 shares.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, June 15th. Citigroup set a $6.00 target price on shares of Solid Biosciences and gave the stock a “hold” rating in a report on Thursday, May 16th. Chardan Capital lowered shares of Solid Biosciences from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $7.50 in a report on Tuesday, May 14th. Goldman Sachs Group lowered shares of Solid Biosciences from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $5.00 to $4.00 in a report on Tuesday, May 14th. Finally, Credit Suisse Group lowered shares of Solid Biosciences from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $7.00 to $6.00 in a report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. Solid Biosciences currently has an average rating of “Hold” and a consensus target price of $6.35.

The stock has a fifty day moving average of $5.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.99 and a current ratio of 6.99.

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

In other news, Director Juan Andrey Zarur sold 8,000 shares of the stock in a transaction 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 document filed with the SEC, which is available at this hyperlink. 31.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Flinton Capital Management LLC bought a new position in shares of Solid Biosciences in the 4th quarter worth $47,000. Great West Life Assurance Co. Can bought a new position in shares of Solid Biosciences in the 4th quarter worth $83,000. Metropolitan Life Insurance Co. NY increased its holdings in shares of Solid Biosciences by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,160 shares of the company’s stock worth $111,000 after buying an additional 3,249 shares during the last quarter. Partner Investment Management L.P. increased its holdings in shares of Solid Biosciences by 85.5% in the 4th quarter. Partner Investment Management L.P. now owns 12,250 shares of the company’s stock worth $328,000 after buying an additional 5,646 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Solid Biosciences by 28.6% in the 4th quarter. New York State Common Retirement Fund now owns 13,500 shares of the company’s stock worth $362,000 after buying an additional 3,000 shares during the last quarter. 59.41% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Company Profile (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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