Solid Biosciences (NASDAQ:SLDB) Insider Sells 4,374 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 4,374 shares of the business’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $5.62, for a total value of $24,581.88. Following the sale, the insider directly owned 97,241 shares in the company, valued at $546,494.42. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB traded up $0.48 during midday trading on Tuesday, reaching $6.40. The company had a trading volume of 1,449,901 shares, compared to its average volume of 1,373,410. Solid Biosciences Inc. has a 1-year low of $3.79 and a 1-year high of $11.45. The firm has a market cap of $686.21 million, a price-to-earnings ratio of -3.35 and a beta of 2.47. The company has a fifty day simple moving average of $8.36 and a two-hundred day simple moving average of $8.18.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.08. Analysts expect that Solid Biosciences Inc. will post -1.66 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLDB. Truist Financial boosted their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 21st. Wall Street Zen upgraded shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. UBS Group initiated coverage on shares of Solid Biosciences in a research note on Wednesday, October 14th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Solid Biosciences in a research report on Monday, September 14th. Finally, Cantor Fitzgerald lifted their price objective on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.79.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds have recently bought and sold shares of SLDB. Engineers Gate Manager LP lifted its stake in Solid Biosciences by 34.5% in the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock worth $289,000 after acquiring an additional 7,410 shares in the last quarter. AXQ Capital LP purchased a new position in Solid Biosciences during the 2nd quarter valued at about $197,000. Wellington Management Group LLP grew its stake in Solid Biosciences by 14.9% during the 2nd quarter. Wellington Management Group LLP now owns 185,365 shares of the company’s stock valued at $1,852,000 after acquiring an additional 24,087 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Solid Biosciences during the 2nd quarter valued at about $2,429,000. Finally, Perceptive Advisors LLC increased its holdings in shares of Solid Biosciences by 0.6% in the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after purchasing an additional 73,107 shares during the period. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company’s research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.

Solid Biosciences’ lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.