Solid Biosciences (NASDAQ:SLDB) Stock: Insider Gabriel Brooks Sells 4,374 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 4,374 shares of the business’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $5.62, for a total value of $24,581.88. Following the transaction, the insider owned 97,241 shares of the company’s stock, valued at $546,494.42. This trade represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Solid Biosciences Price Performance

Shares of SLDB traded up $0.48 during trading hours on Tuesday, reaching $6.40. 1,449,901 shares of the company’s stock traded hands, compared to its average volume of 1,373,410. The firm has a market capitalization of $686.21 million, a price-to-earnings ratio of -3.35 and a beta of 2.47. Solid Biosciences Inc. has a twelve month low of $3.79 and a twelve month high of $11.45. The business’s fifty day simple moving average is $8.36 and its two-hundred day simple moving average is $8.18.

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

Wall Street Analyst Weigh In

SLDB has been the subject of a number of research analyst reports. Loop Capital set a $25.00 price target on shares of Solid Biosciences in a research note on Monday, September 14th. UBS Group began coverage on shares of Solid Biosciences in a research note on Wednesday, October 14th. They set a “buy” rating and a $20.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Solid Biosciences in a report on Monday, September 14th. Cantor Fitzgerald boosted their target price on Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. Finally, Truist Financial upped 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. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.79.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently made changes to their positions in the business. Janus Henderson Group PLC bought a new stake in Solid Biosciences during the first quarter worth approximately $28,877,000. Ally Bridge Group NY LLC grew its position in Solid Biosciences by 85.4% in the first quarter. Ally Bridge Group NY LLC now owns 766,974 shares of the company’s stock worth $5,522,000 after buying an additional 353,349 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Solid Biosciences by 40.8% in the first quarter. Dimensional Fund Advisors LP now owns 956,135 shares of the company’s stock worth $6,877,000 after buying an additional 277,051 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Solid Biosciences in the second quarter valued at $2,429,000. Finally, Stempoint Capital LP bought a new position in shares of Solid Biosciences in the first quarter valued at $1,407,000. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company’s research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.

Solid Biosciences’ lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.