Solid Biosciences (NASDAQ:SLDB) COO David Howton Sells 4,932 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) COO David Howton sold 4,932 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total value of $25,202.52. Following the transaction, the chief operating officer owned 32,908 shares in the company, valued at $168,159.88. The trade was a 13.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Solid Biosciences Trading Up 0.4%

Shares of SLDB traded up $0.03 during mid-day trading on Friday, hitting $5.95. The company’s stock had a trading volume of 415,050 shares, compared to its average volume of 1,648,592. The firm has a 50-day simple moving average of $5.34 and a 200 day simple moving average of $5.26. The firm has a market capitalization of $463.17 million, a P/E ratio of -2.39 and a beta of 2.97. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). As a group, sell-side analysts predict that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds have recently added to or reduced their stakes in SLDB. Legal & General Group Plc raised its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after purchasing an additional 4,534 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Solid Biosciences during the 1st quarter worth approximately $42,000. Pallas Capital Advisors LLC acquired a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $54,000. Finally, Creative Planning acquired a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $57,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Citigroup lowered their price target on shares of Solid Biosciences from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Needham & Company LLC initiated coverage on shares of Solid Biosciences in a research report on Thursday. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Barclays set a $9.00 price target on Solid Biosciences and gave the stock an “overweight” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.82.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.