Insider Selling: Solid Biosciences (NASDAQ:SLDB) CTO Sells 10,905 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CTO Paul Herzich sold 10,905 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $6.44, for a total transaction of $70,228.20. Following the completion of the transaction, the chief technology officer owned 69,067 shares in the company, valued at $444,791.48. This represents a 13.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Paul Herzich also recently made the following trade(s):

• On Monday, February 2nd, Paul Herzich sold 26,250 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $169,050.00.
• On Monday, February 2nd, Paul Herzich sold 26,250 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total value of $169,050.00.
• On Wednesday, December 3rd, Paul Herzich sold 2,701 shares of Solid Biosciences stock. The shares were sold at an average price of $5.11, for a total value of $13,802.11.

Solid Biosciences Trading Up 4.7%

NASDAQ SLDB traded up $0.29 during mid-day trading on Friday, reaching $6.52. 1,888,882 shares of the company’s stock traded hands, compared to its average volume of 1,099,395. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37. The company has a fifty day simple moving average of $5.82 and a 200-day simple moving average of $5.72. The company has a market cap of $507.97 million, a price-to-earnings ratio of -2.62 and a beta of 2.67.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). Equities research analysts forecast that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $14.70.

Solid Biosciences Company Profile

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.