Insider Selling: Solid Biosciences Inc. (NASDAQ:SLDB) COO Sells 5,072 Shares of Stock

by · The Cerbat Gem

Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) COO David T. Howton sold 5,072 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $28,403.20. Following the sale, the chief operating officer now directly owns 15,663 shares in the company, valued at $87,712.80. The trade was a 24.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Solid Biosciences Price Performance

Shares of SLDB stock remained flat at $5.18 during trading on Wednesday. 306,369 shares of the company were exchanged, compared to its average volume of 342,644. Solid Biosciences Inc. has a 52-week low of $3.11 and a 52-week high of $15.05. The firm has a market cap of $206.97 million, a P/E ratio of -1.70 and a beta of 2.01. The company has a fifty day simple moving average of $6.00 and a 200-day simple moving average of $7.24.

Solid Biosciences (NASDAQ:SLDB – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Sell-side analysts anticipate that Solid Biosciences Inc. will post -2.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. Barclays PLC lifted its holdings in shares of Solid Biosciences by 412.1% in the 3rd quarter. Barclays PLC now owns 62,856 shares of the company’s stock valued at $439,000 after purchasing an additional 50,582 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Solid Biosciences during the third quarter worth about $121,000. Wellington Management Group LLP raised its stake in shares of Solid Biosciences by 183.6% during the 3rd quarter. Wellington Management Group LLP now owns 119,804 shares of the company’s stock worth $835,000 after buying an additional 77,564 shares in the last quarter. State Street Corp boosted its position in shares of Solid Biosciences by 9.2% during the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock worth $3,078,000 after purchasing an additional 37,130 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Solid Biosciences by 292.8% during the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after buying an additional 330,234 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research note on Monday, November 11th. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Barclays cut their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Finally, William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Solid Biosciences presently has an average rating of “Buy” and a consensus price target of $15.14.

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About Solid Biosciences

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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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