Solid Biosciences Inc. (NASDAQ:SLDB) Insider Sells $25,816.00 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $25,816.00. Following the completion of the transaction, the insider now directly owns 14,235 shares of the company’s stock, valued at approximately $79,716. This represents a 24.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Solid Biosciences Price Performance

SLDB stock remained flat at $5.18 during midday trading on Wednesday. The company’s stock had a trading volume of 306,369 shares, compared to its average volume of 342,644. The company has a market capitalization of $206.97 million, a price-to-earnings ratio of -1.70 and a beta of 2.01. The business has a 50 day moving average price of $6.00 and a 200 day moving average price of $7.24. Solid Biosciences Inc. has a 1-year low of $3.11 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). On average, analysts expect that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on SLDB. William Blair raised Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Barclays lowered their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Solid Biosciences has an average rating of “Buy” and an average target price of $15.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC grew its stake in shares of Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares in the last quarter. Vanguard Group Inc. grew its position in Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Solid Biosciences by 292.8% during the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after acquiring an additional 330,234 shares during the last quarter. Marshall Wace LLP purchased a new stake in Solid Biosciences during the second quarter valued at approximately $1,554,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Solid Biosciences by 303.6% in the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock valued at $1,574,000 after purchasing an additional 208,793 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors.

About Solid Biosciences

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.