Insider Selling: Solid Biosciences (NASDAQ:SLDB) CEO Sells 48,913 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CEO Alexander Cumbo sold 48,913 shares of Solid Biosciences stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $6.44, for a total value of $314,999.72. Following the sale, the chief executive officer owned 222,018 shares of the company’s stock, valued at approximately $1,429,795.92. This trade represents a 18.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Alexander Cumbo also recently made the following trade(s):

• On Monday, February 2nd, Alexander Cumbo sold 80,258 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $516,861.52.
• On Monday, February 2nd, Alexander Cumbo sold 80,258 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $516,861.52.
• On Wednesday, December 3rd, Alexander Cumbo sold 10,808 shares of Solid Biosciences stock. The shares were sold at an average price of $5.11, for a total value of $55,228.88.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB traded up $0.29 during trading hours on Friday, hitting $6.52. The company’s stock had a trading volume of 1,888,882 shares, compared to its average volume of 1,099,395. The firm’s fifty day moving average price is $5.82 and its 200 day moving average price is $5.72. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $7.37. The company has a market capitalization of $507.97 million, a price-to-earnings ratio of -2.62 and a beta of 2.67.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). On average, equities research analysts predict that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. Wall Street Zen downgraded Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Wednesday, January 14th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Solid Biosciences has an average rating of “Moderate Buy” and a consensus price target of $14.70.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in shares of Solid Biosciences in the 1st quarter valued at about $418,000. Goldman Sachs Group Inc. lifted its holdings in Solid Biosciences by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after acquiring an additional 43,910 shares during the period. Woodline Partners LP acquired a new position in Solid Biosciences in the first quarter valued at approximately $2,338,000. Blair William & Co. IL purchased a new stake in Solid Biosciences in the 2nd quarter worth approximately $807,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Solid Biosciences during the 2nd quarter worth approximately $80,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.