Solid Biosciences (NASDAQ:SLDB) CTO Paul Herzich Sells 2,701 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) CTO Paul Herzich sold 2,701 shares of Solid Biosciences stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $13,802.11. Following the sale, the chief technology officer owned 26,622 shares in the company, valued at approximately $136,038.42. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Solid Biosciences Stock Up 14.1%

SLDB stock traded up $0.73 during mid-day trading on Thursday, hitting $5.92. The company had a trading volume of 1,597,041 shares, compared to its average volume of 1,655,025. Solid Biosciences Inc. has a 12-month low of $2.41 and a 12-month high of $7.37. The company has a 50-day moving average price of $5.34 and a 200 day moving average price of $5.26. The company has a market capitalization of $461.23 million, a price-to-earnings ratio of -2.38 and a beta of 2.97.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly 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). As a group, analysts expect that Solid Biosciences Inc. will post -2.84 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds have recently made changes to their positions in SLDB. Legal & General Group Plc increased its holdings in shares of Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares during the period. Ameritas Investment Partners Inc. boosted its holdings 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 in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the 1st quarter valued at about $42,000. Pallas Capital Advisors LLC purchased a new stake in shares of Solid Biosciences in the second quarter valued at approximately $54,000. Finally, Creative Planning purchased a new stake in Solid Biosciences in the 2nd quarter worth $57,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wedbush decreased their target price on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. 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. Barclays set a $9.00 price target on shares of Solid Biosciences and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Finally, Needham & Company LLC began coverage on Solid Biosciences in a report on Thursday. They set a “buy” rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.82.

Solid Biosciences Company Profile

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.