Insider Selling: Solid Biosciences Inc. (NASDAQ:SLDB) Insider Sells $25,816.00 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $25,816.00. Following the completion of the transaction, the insider now directly owns 14,235 shares of the company’s stock, valued at approximately $79,716. This represents a 24.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB opened at $5.05 on Friday. Solid Biosciences Inc. has a fifty-two week low of $3.58 and a fifty-two week high of $15.05. The firm’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $7.18.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, sell-side analysts expect that Solid Biosciences Inc. will post -2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SLDB has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. reduced 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. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. Finally, William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $15.14.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP raised its position in Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after acquiring an additional 135,000 shares in the last quarter. Millennium Management LLC raised its holdings in Solid Biosciences by 135.7% during the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares during the period. Vanguard Group Inc. raised its holdings in Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares during the period. Point72 Asset Management L.P. raised its holdings in Solid Biosciences by 292.8% during the 3rd 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. Finally, State Street Corp raised its holdings in 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 buying an additional 37,130 shares during the period. 81.46% of the stock is currently owned by institutional investors.

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.