Solid Biosciences Inc. (NASDAQ:SLDB) Insider Sells $18,999.50 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 2,923 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $6.50, for a total transaction of $18,999.50. Following the completion of the sale, the insider now owns 10,979 shares in the company, valued at $71,363.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $5.59 on Friday. Solid Biosciences Inc. has a one year low of $1.81 and a one year high of $15.05. The company has a market cap of $214.54 million, a price-to-earnings ratio of -1.42 and a beta of 1.90. The business’s 50 day moving average price is $7.61 and its 200 day moving average price is $8.10.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Tuesday, August 13th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.05. On average, analysts predict that Solid Biosciences Inc. will post -2.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SLDB shares. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $15.67.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in Solid Biosciences in the first quarter valued at approximately $23,935,000. Acadian Asset Management LLC purchased a new position in shares of Solid Biosciences during the second quarter worth approximately $379,000. Cubist Systematic Strategies LLC purchased a new position in Solid Biosciences during the 2nd quarter worth $412,000. Finally, Millennium Management LLC boosted its stake in shares of Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

About Solid Biosciences

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.