Solid Biosciences (NASDAQ:SLDB) COO David Howton Sells 4,932 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) COO David Howton sold 4,932 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total transaction of $25,202.52. Following the transaction, the chief operating officer owned 32,908 shares of the company’s stock, valued at approximately $168,159.88. The trade was a 13.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Solid Biosciences Price Performance

Shares of Solid Biosciences stock traded up $0.73 on Thursday, hitting $5.92. 1,597,041 shares of the company’s stock traded hands, compared to its average volume of 1,655,025. The company has a market capitalization of $461.23 million, a price-to-earnings ratio of -2.38 and a beta of 2.97. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.37. The company has a fifty day moving average of $5.34 and a two-hundred day moving average of $5.26.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). Equities research analysts anticipate that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Analysts Set New Price Targets

SLDB has been the subject of a number of research analyst reports. Wedbush decreased their price objective on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Citigroup lowered their target price on shares of Solid Biosciences from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.82.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. Legal & General Group Plc boosted its stake in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. lifted 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 valued at $33,000 after purchasing an additional 4,534 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences in the 1st quarter worth approximately $42,000. Pallas Capital Advisors LLC purchased a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $54,000. Finally, Creative Planning bought a new position in Solid Biosciences during the 2nd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.