Solid Biosciences Inc. (NASDAQ:SLDB) Insider Gabriel Brooks Sells 2,923 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) insider Gabriel Brooks sold 2,923 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $6.50, for a total transaction of $18,999.50. Following the completion of the transaction, the insider now owns 10,979 shares of the company’s stock, valued at $71,363.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Solid Biosciences Trading Down 2.1 %

Shares of NASDAQ SLDB traded down $0.12 during midday trading on Tuesday, hitting $5.70. The company’s stock had a trading volume of 599,087 shares, compared to its average volume of 349,385. Solid Biosciences Inc. has a one year low of $1.81 and a one year high of $15.05. The firm has a market capitalization of $220.02 million, a price-to-earnings ratio of -1.67 and a beta of 1.90. The stock has a fifty day moving average price of $7.76 and a 200 day moving average price of $8.18.

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

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently added to or reduced their stakes in SLDB. Vanguard Group Inc. increased its position in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in Solid Biosciences by 28.9% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after acquiring an additional 904,160 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Solid Biosciences in the first quarter worth $23,935,000. Artal Group S.A. lifted its holdings in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after acquiring an additional 1,590,781 shares during the last quarter. Finally, RA Capital Management L.P. lifted its stake in Solid Biosciences by 26.4% in the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after purchasing an additional 904,160 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLDB has been the subject of several recent research reports. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Leerink Partnrs raised Solid Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Barclays cut their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Leerink Partners upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research report on Monday, June 24th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Wednesday, August 14th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and a consensus target price of $15.67.

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.