Solid Biosciences (NASDAQ:SLDB) CTO Sells $70,228.20 in Stock

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

Shares of NASDAQ SLDB traded up $0.29 on Friday, reaching $6.52. 1,888,882 shares of the company traded hands, compared to its average volume of 1,099,395. Solid Biosciences Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $7.37. The company has a 50 day moving average of $5.82 and a 200 day moving average of $5.72. The stock has a market capitalization of $507.97 million, a PE ratio of -2.62 and a beta of 2.67.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). As a group, research analysts expect that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLDB. Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. JPMorgan Chase & Co. dropped their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Wall Street Zen cut Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Chardan Capital restated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Tuesday, November 4th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Solid Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $14.70.

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently modified their holdings of SLDB. Legal & General Group Plc raised its holdings in shares of Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares during the period. Ameritas Investment Partners Inc. grew its position in Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after acquiring an additional 4,534 shares in the last quarter. Creative Planning acquired a new stake in Solid Biosciences in the second quarter valued at approximately $57,000. Russell Investments Group Ltd. raised its stake in shares of Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after purchasing an additional 5,991 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Solid Biosciences by 233.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock worth $74,000 after purchasing an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.