Solid Biosciences (NASDAQ:SLDB) Stock: Insider Gabriel Brooks Sells 4,374 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 4,374 shares of the stock in a transaction on Monday, October 19th. The shares were sold at an average price of $5.62, for a total value of $24,581.88. Following the sale, the insider owned 97,241 shares in the company, valued at approximately $546,494.42. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Solid Biosciences Stock Performance

SLDB stock opened at $6.41 on Thursday. Solid Biosciences Inc. has a 1-year low of $3.79 and a 1-year high of $11.45. The business has a fifty day moving average price of $8.26 and a 200-day moving average price of $8.17.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. On average, equities analysts predict that Solid Biosciences Inc. will post -1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SLDB has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Royal Bank Of Canada assumed coverage on shares of Solid Biosciences in a research note on Wednesday, September 16th. They issued an “outperform” rating and a $18.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Solid Biosciences in a report on Monday, September 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, October 15th. Finally, UBS Group initiated coverage on shares of Solid Biosciences in a research report on Wednesday, October 14th. They set a “buy” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.79.

Institutional Trading of Solid Biosciences

Large investors have recently modified their holdings of the company. Perceptive Advisors LLC increased its position in Solid Biosciences by 0.6% during the first quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after acquiring an additional 73,107 shares during the last quarter. Janus Henderson Group PLC purchased a new position in Solid Biosciences in the first quarter worth about $28,877,000. Redmile Group LLC boosted its position in Solid Biosciences by 8.1% in the first quarter. Redmile Group LLC now owns 2,011,895 shares of the company’s stock worth $14,486,000 after purchasing an additional 151,353 shares during the last quarter. Monashee Investment Management LLC boosted its position in Solid Biosciences by 5.2% in the first quarter. Monashee Investment Management LLC now owns 1,420,295 shares of the company’s stock worth $10,226,000 after purchasing an additional 70,524 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Solid Biosciences by 40.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 956,135 shares of the company’s stock valued at $6,877,000 after purchasing an additional 277,051 shares during the period. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc (NASDAQ: SLDB) is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.