David T. Howton Sells 5,072 Shares of Solid Biosciences Inc. (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) COO David T. Howton sold 5,072 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $28,403.20. Following the completion of the sale, the chief operating officer now owns 15,663 shares in the company, valued at $87,712.80. This trade represents a 24.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Solid Biosciences Stock Up 1.8 %

SLDB stock opened at $5.05 on Friday. The stock’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $7.18. Solid Biosciences Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $15.05.

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

Analysts Set New Price Targets

SLDB has been the topic of a number of recent analyst reports. William Blair raised Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Barclays dropped their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.14.

Institutional Trading of Solid Biosciences

Several institutional investors and hedge funds have recently modified their holdings of SLDB. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 920,404 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Solid Biosciences in the second quarter worth approximately $392,000. Rhumbline Advisers purchased a new stake in shares of Solid Biosciences in the second quarter worth approximately $191,000. Acadian Asset Management LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth approximately $379,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth approximately $76,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

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.