David Howton Sells 7,469 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) COO David Howton sold 7,469 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $43,469.58. Following the transaction, the chief operating officer owned 105,077 shares in the company, valued at $611,548.14. This trade represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Solid Biosciences Trading Down 0.7%

SLDB stock opened at $5.88 on Friday. The business’s fifty day moving average price is $5.95 and its 200 day moving average price is $5.68. Solid Biosciences Inc. has a 12-month low of $2.41 and a 12-month high of $7.37. The company has a market capitalization of $458.11 million, a PE ratio of -2.36 and a beta of 2.67.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. JPMorgan Chase & Co. reduced their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Barclays set a $9.00 price objective on Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Tuesday, November 4th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.70.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Bollard Group LLC acquired a new stake in Solid Biosciences in the second quarter valued at $1,761,000. Geode Capital Management LLC increased its holdings in shares of Solid Biosciences by 184.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after acquiring an additional 979,294 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Solid Biosciences by 28.9% during 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. Knott David M Jr lifted its stake in Solid Biosciences by 23.1% during the second quarter. Knott David M Jr now owns 162,440 shares of the company’s stock worth $791,000 after purchasing an additional 30,440 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in Solid Biosciences in the second quarter valued at approximately $80,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.