Jessie Hanrahan Sells 4,483 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,483 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total value of $22,908.13. Following the completion of the sale, the insider directly owned 26,660 shares in the company, valued at approximately $136,232.60. This represents a 14.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Solid Biosciences Stock Down 2.5%

SLDB stock opened at $5.77 on Friday. The business has a 50 day moving average of $5.33 and a 200 day moving average of $5.28. The firm has a market cap of $449.54 million, a PE ratio of -2.32 and a beta of 2.97. Solid Biosciences Inc. has a twelve month low of $2.41 and a twelve month high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last released 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). On average, research analysts expect that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Solid Biosciences by 205.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after buying an additional 5,991 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in Solid Biosciences during the second quarter valued at approximately $54,000. Finally, Ground Swell Capital LLC purchased a new stake in Solid Biosciences during the first quarter valued at approximately $42,000. Institutional investors own 81.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Citigroup decreased their target price on shares of Solid Biosciences from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Wedbush cut their target price on Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 13th. Finally, Chardan Capital restated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Solid Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $14.82.

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.