Gabriel Brooks Sells 2,895 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 2,895 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $5.96, for a total transaction of $17,254.20. Following the completion of the transaction, the insider directly owned 33,819 shares of the company’s stock, valued at $201,561.24. This represents a 7.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Solid Biosciences Price Performance

Shares of Solid Biosciences stock opened at $5.64 on Thursday. The business has a fifty day simple moving average of $5.73 and a two-hundred day simple moving average of $4.84. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $7.37. The company has a market capitalization of $439.19 million, a price-to-earnings ratio of -2.01 and a beta of 2.53.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. As a group, equities analysts anticipate that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

SLDB has been the subject of several research reports. Cantor Fitzgerald set a $16.00 price target on Solid Biosciences and gave the company an “overweight” rating in a report on Monday, July 21st. JPMorgan Chase & Co. cut their price target on Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Thursday, August 14th. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a report on Thursday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its stake in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Solid Biosciences by 10.6% during the first quarter. American Century Companies Inc. now owns 51,835 shares of the company’s stock worth $192,000 after purchasing an additional 4,978 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Solid Biosciences by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 68,607 shares of the company’s stock worth $254,000 after purchasing an additional 5,220 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Solid Biosciences by 80.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock worth $57,000 after purchasing an additional 6,836 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.