Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) insider Gabriel Brooks sold 4,374 shares of Solid Biosciences stock in a transaction that occurred 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 completion of the transaction, the insider owned 97,241 shares of the company’s stock, valued at approximately $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 is available at this link.
Solid Biosciences Stock Performance
NASDAQ SLDB opened at $6.40 on Wednesday. The business’s 50 day moving average price is $8.31 and its 200-day moving average price is $8.18. Solid Biosciences Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $11.45. The company has a market cap of $686.24 million, a P/E ratio of -3.35 and a beta of 2.47.
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. As a group, equities analysts predict 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 recent analyst reports. Truist Financial lifted their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, October 15th. Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Royal Bank Of Canada initiated coverage on shares of Solid Biosciences in a research note on Wednesday, September 16th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Loop Capital set a $25.00 price objective on shares of Solid Biosciences in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Solid Biosciences presently has an average rating of “Moderate Buy” and an average price target of $18.79.
Check Out Our Latest Analysis on Solid Biosciences
Hedge Funds Weigh In On Solid Biosciences
Several hedge funds have recently bought and sold shares of SLDB. Engineers Gate Manager LP increased its stake in Solid Biosciences by 34.5% in the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock worth $289,000 after purchasing an additional 7,410 shares during the period. Hsbc Holdings PLC lifted its position in shares of Solid Biosciences by 78.4% during the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock worth $284,000 after purchasing an additional 17,360 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Solid Biosciences during the second quarter valued at $197,000. Wellington Management Group LLP boosted its stake in shares of Solid Biosciences by 14.9% during the second quarter. Wellington Management Group LLP now owns 185,365 shares of the company’s stock valued at $1,852,000 after purchasing an additional 24,087 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Solid Biosciences by 12.3% during the first quarter. Bank of America Corp DE now owns 386,793 shares of the company’s stock valued at $2,785,000 after purchasing an additional 42,499 shares during the period. 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.
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