Solid Biosciences (NASDAQ:SLDB) Insider Jessie Hanrahan Sells 4,134 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,134 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $24,059.88. Following the completion of the sale, the insider directly owned 74,318 shares of the company’s stock, valued at approximately $432,530.76. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, February 4th, Jessie Hanrahan sold 12,348 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $79,521.12.
• 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 shares were sold at an average price of $5.11, for a total transaction of $22,908.13.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB traded up $0.42 during mid-day trading on Wednesday, hitting $5.92. 2,079,162 shares of the stock traded hands, compared to its average volume of 1,194,126. The stock has a fifty day moving average price of $5.95 and a 200-day moving average price of $5.68. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $7.37. The company has a market cap of $461.23 million, a price-to-earnings ratio of -2.38 and a beta of 2.67.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently made changes to their positions in SLDB. Legal & General Group Plc lifted 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 valued at $29,000 after purchasing an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after buying an additional 4,534 shares during the last quarter. Creative Planning acquired a new position in Solid Biosciences in the 2nd quarter valued at $57,000. Russell Investments Group Ltd. grew its holdings in Solid Biosciences by 142.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after buying an additional 5,991 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Solid Biosciences by 233.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock valued at $74,000 after purchasing an additional 10,585 shares during the period. Institutional investors own 81.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SLDB shares. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Barclays set a $9.00 price target on Solid Biosciences and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Ten 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, Solid Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $14.70.

Solid Biosciences Company Profile

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.