Insider Selling: Solid Biosciences (NASDAQ:SLDB) Insider Sells 4,134 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,134 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total transaction of $24,059.88. Following the sale, the insider directly owned 74,318 shares of the company’s stock, valued at approximately $432,530.76. The trade was a 5.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, February 4th, Jessie Hanrahan sold 12,348 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $79,521.12.
• 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 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 Wednesday, December 3rd, Jessie Hanrahan sold 4,483 shares of Solid Biosciences stock. The stock was sold at an average price of $5.11, for a total value of $22,908.13.

Solid Biosciences Trading Up 7.6%

Shares of SLDB traded up $0.42 during trading hours on Wednesday, hitting $5.92. 2,079,162 shares of the stock traded hands, compared to its average volume of 1,194,126. The business has a fifty day moving average of $5.95 and a 200-day moving average of $5.68. The firm has a market capitalization of $461.23 million, a PE ratio of -2.38 and a beta of 2.67. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC increased its stake in shares of Solid Biosciences by 10.4% during the 4th quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock worth $187,000 after purchasing an additional 3,124 shares during the last quarter. Quantum Private Wealth LLC grew its holdings in Solid Biosciences by 3.9% during the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock worth $581,000 after purchasing an additional 3,500 shares during the period. Legal & General Group Plc increased its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after buying an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after buying an additional 4,534 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Solid Biosciences by 15.2% in the fourth quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock valued at $194,000 after buying an additional 4,539 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered 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. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Monday, February 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Barclays set a $9.00 price target on Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently 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.