Solid Biosciences (NASDAQ:SLDB) CEO Sells $314,999.72 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CEO Alexander Cumbo sold 48,913 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $6.44, for a total transaction of $314,999.72. Following the completion of the transaction, the chief executive officer owned 222,018 shares of the company’s stock, valued at approximately $1,429,795.92. This trade represents a 18.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alexander Cumbo also recently made the following trade(s):

• On Monday, February 2nd, Alexander Cumbo sold 80,258 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $516,861.52.
• On Monday, February 2nd, Alexander Cumbo sold 80,258 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $516,861.52.
• On Wednesday, December 3rd, Alexander Cumbo sold 10,808 shares of Solid Biosciences stock. The stock was sold at an average price of $5.11, for a total value of $55,228.88.

Solid Biosciences Trading Up 4.7%

SLDB traded up $0.29 during trading on Friday, hitting $6.52. The company’s stock had a trading volume of 1,888,882 shares, compared to its average volume of 1,099,395. The firm has a market capitalization of $507.97 million, a price-to-earnings ratio of -2.62 and a beta of 2.67. Solid Biosciences Inc. has a twelve month low of $2.41 and a twelve month high of $7.37. The business’s fifty day simple moving average is $5.82 and its 200 day simple moving average is $5.72.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SLDB. AQR Capital Management LLC acquired a new position in shares of Solid Biosciences during the 1st quarter worth approximately $418,000. Goldman Sachs Group Inc. lifted its position in Solid Biosciences by 32.2% during the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock worth $667,000 after buying an additional 43,910 shares in the last quarter. Woodline Partners LP acquired a new position in Solid Biosciences during the first quarter worth $2,338,000. Blair William & Co. IL purchased a new stake in Solid Biosciences in the 2nd quarter valued at $807,000. Finally, ProShare Advisors LLC purchased a new stake in Solid Biosciences in the 2nd quarter valued at $80,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLDB. JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Wednesday, January 14th. Wall Street Zen lowered Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a report on Tuesday, November 4th. Finally, Barclays set a $9.00 price target on Solid Biosciences and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.70.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.