Solid Biosciences (NASDAQ:SLDB) Insider Sells $24,581.88 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 4,374 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $5.62, for a total transaction of $24,581.88. Following the sale, the insider directly owned 97,241 shares in the company, valued at approximately $546,494.42. The trade was a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Solid Biosciences Trading Down 3.4%

SLDB stock opened at $6.19 on Friday. Solid Biosciences Inc. has a twelve month low of $3.79 and a twelve month high of $11.45. The firm’s fifty day simple moving average is $8.20 and its two-hundred day simple moving average is $8.16.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Analysts anticipate that Solid Biosciences Inc. will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors have recently modified their holdings of the stock. AXQ Capital LP bought a new stake in shares of Solid Biosciences during the second quarter valued at approximately $197,000. Hsbc Holdings PLC boosted its holdings in shares of Solid Biosciences by 78.4% in the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock valued at $284,000 after purchasing an additional 17,360 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of Solid Biosciences by 34.5% in the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock valued at $289,000 after purchasing an additional 7,410 shares during the period. Renaissance Technologies LLC grew its stake in Solid Biosciences by 135.4% in the first quarter. Renaissance Technologies LLC now owns 124,272 shares of the company’s stock worth $895,000 after purchasing an additional 71,472 shares in the last quarter. Finally, Stempoint Capital LP bought a new position in Solid Biosciences in the first quarter worth approximately $1,407,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLDB has been the subject of a number of recent analyst reports. Loop Capital set a $25.00 price objective on Solid Biosciences in a report on Monday, September 14th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Solid Biosciences in a research note on Monday, September 14th. Truist Financial lifted their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Cantor Fitzgerald lifted their target price on Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.79.

About Solid Biosciences

Solid Biosciences Inc (NASDAQ: SLDB) is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.