Insider Selling: Solid Biosciences (NASDAQ:SLDB) CTO Sells 3,616 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CTO Paul Herzich sold 3,616 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.82, for a total transaction of $21,045.12. Following the completion of the sale, the chief technology officer directly owned 72,638 shares in the company, valued at $422,753.16. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, February 4th, Paul Herzich sold 10,905 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $70,228.20.
• 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 shares were sold at an average price of $6.44, for a total transaction 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 transaction of $13,802.11.

Solid Biosciences Price Performance

NASDAQ SLDB traded up $0.42 during trading hours on Wednesday, reaching $5.92. The company’s stock had a trading volume of 2,079,162 shares, compared to its average volume of 1,194,126. The firm has a market capitalization of $461.23 million, a price-to-earnings ratio of -2.38 and a beta of 2.67. The company’s 50-day moving average is $5.95 and its two-hundred day moving average is $5.68. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37.

Institutional Trading of Solid Biosciences

Several large investors have recently added to or reduced their stakes in SLDB. MetLife Investment Management LLC raised its holdings in shares of Solid Biosciences by 10.4% during the 4th quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock worth $187,000 after acquiring an additional 3,124 shares during the period. Quantum Private Wealth LLC grew its holdings in shares of Solid Biosciences by 3.9% in the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock valued at $581,000 after purchasing an additional 3,500 shares during the period. Legal & General Group Plc increased its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in Solid Biosciences by 15.2% in the 4th quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock valued at $194,000 after purchasing an additional 4,539 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SLDB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. Barclays set a $9.00 price objective on Solid Biosciences and gave the company an “overweight” rating in a report on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Monday, February 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Solid Biosciences currently has an average rating of “Moderate Buy” and an average target price of $14.70.

About Solid Biosciences

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.