Insider Selling: Solid Biosciences (NASDAQ:SLDB) Insider Sells $22,908.13 in Stock

by · The Cerbat Gem

Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) insider Jessie Hanrahan sold 4,483 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $22,908.13. Following the completion of the sale, the insider owned 26,660 shares in the company, 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 SEC, which is available through this hyperlink.

Solid Biosciences Trading Down 2.5%

Shares of NASDAQ SLDB opened at $5.77 on Friday. Solid Biosciences Inc. has a 12-month low of $2.41 and a 12-month high of $7.37. The company has a market cap of $449.54 million, a PE ratio of -2.32 and a beta of 2.97. The stock has a 50 day simple moving average of $5.33 and a 200-day simple moving average of $5.30.

Solid Biosciences (NASDAQ:SLDB – Get Free Report) 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). Sell-side analysts forecast that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SLDB shares. Barclays set a $9.00 price objective on shares of Solid Biosciences and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Needham & Company LLC initiated coverage on shares of Solid Biosciences in a research note on Thursday. They set a “buy” rating and a $16.00 target price on the stock. Wedbush reduced their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, August 13th. Citigroup decreased their price objective on shares of Solid Biosciences from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Solid Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $14.82.

View Our Latest Report on Solid Biosciences

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently made changes to their positions in SLDB. Bain Capital Life Sciences Investors LLC grew its stake in shares of Solid Biosciences by 96.1% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company’s stock worth $29,273,000 after purchasing an additional 3,877,087 shares during the last quarter. Siren L.L.C. lifted its stake in Solid Biosciences by 97.8% during the first quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock valued at $27,439,000 after purchasing an additional 3,666,864 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Solid Biosciences by 285.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company’s stock valued at $24,899,000 after purchasing an additional 4,981,400 shares during the last quarter. Vestal Point Capital LP boosted its holdings in Solid Biosciences by 97.7% during the third quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock worth $18,356,000 after buying an additional 1,470,000 shares in the last quarter. Finally, Redmile Group LLC grew its position in Solid Biosciences by 228.2% in the first quarter. Redmile Group LLC now owns 2,019,171 shares of the company’s stock worth $7,471,000 after buying an additional 1,403,925 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

(Get Free Report)

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.

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