Insider Selling: Solid Biosciences (NASDAQ:SLDB) Insider Sells $24,059.88 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) insider Jessie Hanrahan sold 4,134 shares of Solid Biosciences stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.82, for a total transaction of $24,059.88. Following the completion of the transaction, the insider directly owned 74,318 shares in the company, valued at approximately $432,530.76. This represents a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jessie Hanrahan also recently made the following trade(s):

• On Wednesday, February 4th, Jessie Hanrahan sold 12,348 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $79,521.12.
• On Monday, February 2nd, Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total transaction of $170,885.40.
• On Monday, February 2nd, Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $170,885.40.
• On Wednesday, December 3rd, Jessie Hanrahan sold 4,483 shares of Solid Biosciences stock. The stock was sold at an average price of $5.11, for a total transaction of $22,908.13.

Solid Biosciences Price Performance

SLDB stock opened at $5.71 on Friday. The stock has a market capitalization of $444.87 million, a price-to-earnings ratio of -2.29 and a beta of 2.67. The company has a 50-day moving average of $5.95 and a two-hundred day moving average of $5.67. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Siren L.L.C. boosted its stake in Solid Biosciences by 3.7% during the fourth quarter. Siren L.L.C. now owns 7,690,405 shares of the company’s stock worth $43,374,000 after buying an additional 274,500 shares in the last quarter. Vestal Point Capital LP lifted its holdings in shares of Solid Biosciences by 95.5% during the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock worth $32,797,000 after acquiring an additional 2,840,000 shares during the period. Armistice Capital LLC boosted its position in shares of Solid Biosciences by 179.1% during the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock valued at $14,732,000 after acquiring an additional 1,676,000 shares in the last quarter. Nantahala Capital Management LLC increased its stake in Solid Biosciences by 505.4% in the second quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock valued at $8,295,000 after acquiring an additional 1,421,968 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake in Solid Biosciences by 2.6% in the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after acquiring an additional 41,984 shares during the period. 81.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on SLDB shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Monday, February 9th. JPMorgan Chase & Co. lowered 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. Barclays set a $9.00 target price on shares of Solid Biosciences and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Chardan Capital restated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.