Paul Herzich Sells 2,701 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CTO Paul Herzich sold 2,701 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total value of $13,802.11. Following the transaction, the chief technology officer owned 26,622 shares of the company’s stock, valued at $136,038.42. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB opened at $5.77 on Friday. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37. The business has a fifty day moving average of $5.33 and a two-hundred day moving average of $5.28. The stock has a market cap of $449.54 million, a PE ratio of -2.32 and a beta of 2.97.

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

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds have recently added to or reduced their stakes in SLDB. Legal & General Group Plc lifted its position in Solid Biosciences by 208.6% during the 2nd 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 period. Ameritas Investment Partners Inc. lifted its holdings in Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after buying an additional 4,534 shares during the period. Ground Swell Capital LLC acquired a new position in Solid Biosciences in the first quarter valued at approximately $42,000. Pallas Capital Advisors LLC acquired a new position in Solid Biosciences in the second quarter valued at approximately $54,000. Finally, Creative Planning acquired a new stake in Solid Biosciences during the 2nd quarter worth $57,000. Institutional investors own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

SLDB has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Needham & Company LLC initiated coverage on Solid Biosciences in a report on Thursday. They set a “buy” rating and a $16.00 price target for the company. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Tuesday, November 4th. Barclays set a $9.00 target price on Solid Biosciences and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.82.

About Solid Biosciences

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.