Insider Selling: Solid Biosciences (NASDAQ:SLDB) Insider Sells 12,348 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 12,348 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $6.44, for a total value of $79,521.12. Following the transaction, the insider owned 70,327 shares in the company, valued at $452,905.88. The trade was a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jessie Hanrahan also recently made the following trade(s):

• On Monday, February 2nd, Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $170,885.40.
• On Monday, February 2nd, Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total value of $170,885.40.
• On Wednesday, December 3rd, Jessie Hanrahan sold 4,483 shares of Solid Biosciences stock. The shares were sold at an average price of $5.11, for a total value of $22,908.13.

Solid Biosciences Stock Up 4.7%

Shares of SLDB stock traded up $0.29 on Friday, hitting $6.52. The stock had a trading volume of 1,888,882 shares, compared to its average volume of 1,099,395. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.37. The business has a 50 day moving average price of $5.82 and a 200 day moving average price of $5.72. The company has a market cap of $507.97 million, a PE ratio of -2.62 and a beta of 2.67.

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

Hedge Funds Weigh In On Solid Biosciences

Hedge funds have recently made changes to their positions in the company. UBS Group AG raised its stake in Solid Biosciences by 25.9% in the 4th quarter. UBS Group AG now owns 911,409 shares of the company’s stock worth $5,140,000 after acquiring an additional 187,264 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Solid Biosciences in the fourth quarter valued at about $118,000. CIBC Bancorp USA Inc. acquired a new position in shares of Solid Biosciences in the third quarter valued at about $228,000. Armistice Capital LLC raised its stake in shares of Solid Biosciences by 134.0% in the third quarter. Armistice Capital LLC now owns 936,000 shares of the company’s stock worth $5,775,000 after purchasing an additional 536,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Solid Biosciences by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock worth $10,383,000 after purchasing an additional 41,984 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SLDB shares. Chardan Capital reissued a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Tuesday, November 4th. Barclays set a $9.00 price target on Solid Biosciences and gave the company an “overweight” rating in a report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Wednesday, January 14th. Finally, Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Solid Biosciences currently has an average rating of “Moderate Buy” and a consensus 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.