Insider Selling: Solid Biosciences (NASDAQ:SLDB) Insider Sells 4,483 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,483 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total value of $22,908.13. Following the completion of the sale, the insider directly owned 26,660 shares of the company’s stock, valued at $136,232.60. The trade was a 14.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Solid Biosciences Price Performance

NASDAQ:SLDB traded up $0.73 during trading hours on Thursday, hitting $5.92. The company had a trading volume of 1,597,041 shares, compared to its average volume of 1,655,025. The stock has a 50-day moving average price of $5.34 and a 200 day moving average price of $5.26. The company has a market capitalization of $461.23 million, a PE ratio of -2.38 and a beta of 2.97. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC boosted its holdings in Solid Biosciences by 3.9% in the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock worth $581,000 after acquiring an additional 3,500 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after acquiring an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Solid Biosciences by 205.5% in the 2nd 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. raised its position in shares of Solid Biosciences by 10.6% in the 1st 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in Solid Biosciences by 8.2% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SLDB shares. Citigroup reduced their target price on Solid Biosciences from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Barclays set a $9.00 price objective on Solid Biosciences and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Wedbush dropped their target price on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Solid Biosciences currently has an average rating of “Moderate Buy” and an average price target of $14.82.

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.