Solid Biosciences (NASDAQ:SLDB) Insider Sells $79,521.12 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 12,348 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $6.44, for a total value of $79,521.12. Following the transaction, the insider owned 70,327 shares of the company’s stock, valued at $452,905.88. This represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jessie Hanrahan also recently made the following trade(s):

• On Monday, February 2nd, Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $170,885.40.
• On Monday, February 2nd, Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total transaction of $170,885.40.
• On Wednesday, December 3rd, Jessie Hanrahan sold 4,483 shares of Solid Biosciences stock. The stock was sold at an average price of $5.11, for a total transaction of $22,908.13.

Solid Biosciences Price Performance

Shares of Solid Biosciences stock traded up $0.29 during trading hours on Friday, reaching $6.52. The company’s stock had a trading volume of 1,888,882 shares, compared to its average volume of 1,099,395. The firm has a 50 day moving average price of $5.82 and a 200-day moving average price of $5.72. The stock has a market cap of $507.97 million, a P/E ratio of -2.62 and a beta of 2.67. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly 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). As a group, sell-side analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Institutional Trading of Solid Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in SLDB. Vestal Point Capital LP boosted its stake in shares of Solid Biosciences by 97.7% during the third quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock valued at $18,356,000 after purchasing an additional 1,470,000 shares during the period. Nantahala Capital Management LLC boosted its position in Solid Biosciences by 505.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock valued at $8,295,000 after buying an additional 1,421,968 shares during the period. Alyeska Investment Group L.P. boosted its position in Solid Biosciences by 2.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after buying an additional 41,984 shares during the period. Franklin Resources Inc. grew its stake in Solid Biosciences by 28.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock worth $7,788,000 after acquiring an additional 358,473 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Solid Biosciences by 184.5% during the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after acquiring an additional 979,294 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SLDB has been the topic of several analyst reports. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Wednesday, January 14th. Wall Street Zen lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.70.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.