Insider Selling: Solid Biosciences (NASDAQ:SLDB) CTO Sells $21,045.12 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CTO Paul Herzich sold 3,616 shares of Solid Biosciences stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $21,045.12. Following the sale, the chief technology officer owned 72,638 shares of the company’s stock, valued at approximately $422,753.16. This represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Paul Herzich also recently made the following trade(s):

• On Wednesday, February 4th, Paul Herzich sold 10,905 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total transaction of $70,228.20.
• On Monday, February 2nd, Paul Herzich sold 26,250 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $169,050.00.
• On Monday, February 2nd, Paul Herzich sold 26,250 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total transaction of $169,050.00.
• On Wednesday, December 3rd, Paul Herzich sold 2,701 shares of Solid Biosciences stock. The shares were sold at an average price of $5.11, for a total transaction of $13,802.11.

Solid Biosciences Stock Performance

SLDB stock opened at $5.71 on Friday. The company has a 50 day moving average price of $5.95 and a two-hundred day moving average price of $5.67. The stock has a market capitalization of $444.87 million, a P/E ratio of -2.29 and a beta of 2.67. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.37.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the period. Ameritas Investment Partners Inc. raised 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. Creative Planning acquired a new position in Solid Biosciences during the second quarter valued at approximately $57,000. Russell Investments Group Ltd. lifted its position in Solid Biosciences by 142.0% during the third 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 in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Solid Biosciences by 233.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock worth $74,000 after buying an additional 10,585 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SLDB shares. Chardan Capital reiterated a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Tuesday, November 4th. 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 report on Wednesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Monday, February 9th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $14.70.

About Solid Biosciences

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.