Solid Biosciences (NASDAQ:SLDB) CEO Sells $55,228.88 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CEO Alexander Cumbo sold 10,808 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total value of $55,228.88. Following the completion of the transaction, the chief executive officer directly owned 81,388 shares of the company’s stock, valued at approximately $415,892.68. This trade represents a 11.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Solid Biosciences Stock Up 14.1%

Shares of SLDB traded up $0.73 during mid-day trading on Thursday, reaching $5.92. The company had a trading volume of 1,597,041 shares, compared to its average volume of 1,655,025. The stock has a market capitalization of $461.23 million, a P/E ratio of -2.38 and a beta of 2.97. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37. The stock has a 50 day moving average of $5.34 and a two-hundred day moving average of $5.26.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). On average, sell-side analysts expect that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SLDB. XTX Topco Ltd acquired a new stake in shares of Solid Biosciences during the first quarter valued at about $151,000. Charles Schwab Investment Management Inc. lifted its stake in Solid Biosciences by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 68,607 shares of the company’s stock worth $254,000 after purchasing an additional 5,220 shares in the last quarter. Invesco Ltd. boosted its position in shares of Solid Biosciences by 228.3% during the first quarter. Invesco Ltd. now owns 40,180 shares of the company’s stock worth $149,000 after buying an additional 27,943 shares during the period. Virtu Financial LLC purchased a new position in shares of Solid Biosciences during the first quarter worth $95,000. Finally, Nuveen LLC purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at $161,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Wall Street Analyst Weigh In

SLDB has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Wedbush decreased their target price on Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Barclays set a $9.00 price target on shares of Solid Biosciences and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen cut shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.82.

Solid Biosciences Company Profile

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.