Solid Biosciences Inc. (NASDAQ:SLDB) Insider Sells $18,999.50 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 2,923 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $6.50, for a total value of $18,999.50. Following the completion of the transaction, the insider now owns 10,979 shares in the company, valued at approximately $71,363.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Solid Biosciences Trading Down 1.2 %

Shares of SLDB opened at $5.63 on Thursday. Solid Biosciences Inc. has a 12-month low of $1.81 and a 12-month high of $15.05. The firm has a market capitalization of $217.32 million, a P/E ratio of -1.71 and a beta of 1.90. The firm has a 50-day moving average price of $7.67 and a 200 day moving average price of $8.11.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.05. Equities research analysts predict that Solid Biosciences Inc. will post -2.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new position in shares of Solid Biosciences during the 2nd quarter worth $58,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences in the second quarter valued at about $76,000. Algert Global LLC purchased a new position in Solid Biosciences during the second quarter worth about $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences during the second quarter valued at about $92,000. Finally, Rhumbline Advisers purchased a new stake in shares of Solid Biosciences in the 2nd quarter valued at approximately $191,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

SLDB has been the subject of several recent research reports. William Blair raised Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their target price for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Barclays decreased their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Wednesday, August 14th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.67.

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.