Paul Herzich Sells 3,616 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CTO Paul Herzich sold 3,616 shares of the firm’s 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 $21,045.12. Following the transaction, the chief technology officer directly owned 72,638 shares of the company’s stock, valued at $422,753.16. This represents a 4.74% decrease in their position. The sale was disclosed in a filing with the SEC, 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 stock was 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 stock was 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 value of $169,050.00.
• On Wednesday, December 3rd, Paul Herzich sold 2,701 shares of Solid Biosciences stock. The stock was sold at an average price of $5.11, for a total value of $13,802.11.

Solid Biosciences Stock Up 7.6%

Shares of NASDAQ:SLDB traded up $0.42 on Wednesday, hitting $5.92. 2,079,162 shares of the company traded hands, compared to its average volume of 1,194,126. The company has a market cap of $461.23 million, a PE ratio of -2.38 and a beta of 2.67. The stock has a 50 day simple moving average of $5.95 and a 200-day simple moving average of $5.68. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $7.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a report on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.70.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds have recently modified their holdings of SLDB. Bollard Group LLC bought a new stake in Solid Biosciences in the 2nd quarter valued at $1,761,000. Geode Capital Management LLC increased its stake in Solid Biosciences by 184.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after buying an additional 979,294 shares during the period. Franklin Resources Inc. raised its position in Solid Biosciences by 28.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock valued at $7,788,000 after purchasing an additional 358,473 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Solid Biosciences during the second quarter valued at approximately $80,000. Finally, Knott David M Jr grew its stake in Solid Biosciences by 23.1% in the second quarter. Knott David M Jr now owns 162,440 shares of the company’s stock valued at $791,000 after purchasing an additional 30,440 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors.

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.