Insider Selling: Solid Biosciences Inc. (NASDAQ:SLDB) CFO Sells 4,073 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 4,073 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $3.89, for a total value of $15,843.97. Following the sale, the chief financial officer now directly owns 24,789 shares in the company, valued at approximately $96,429.21. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Solid Biosciences Price Performance

SLDB stock opened at $3.14 on Thursday. Solid Biosciences Inc. has a 1 year low of $3.03 and a 1 year high of $15.05. The firm has a market capitalization of $125.46 million, a PE ratio of -1.03 and a beta of 2.05. The business has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $6.55.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, equities research analysts expect that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. JMP Securities initiated coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Friday, January 10th. Wedbush started coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a report on Monday, November 11th. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Solid Biosciences has a consensus rating of “Buy” and an average target price of $15.30.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in Solid Biosciences in the 2nd quarter valued at about $58,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the 3rd quarter worth approximately $71,000. Algert Global LLC purchased a new stake in shares of Solid Biosciences during the 2nd quarter valued at approximately $82,000. Susquehanna Fundamental Investments LLC acquired a new position in Solid Biosciences in the second quarter valued at approximately $92,000. Finally, MetLife Investment Management LLC grew its position in Solid Biosciences by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after acquiring an additional 7,719 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.