Gabriel Brooks Sells 2,895 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Key Points

• Gabriel Brooks, an insider at Solid Biosciences, sold 2,895 shares of the company's stock on October 20th at an average price of $5.96, reducing his ownership by 7.89%.
• Solid Biosciences' stock traded down 2.3%, reaching $6.01 on Tuesday, with a market cap of $468 million and a 12-month low of $2.41.
• Brokerages have varied ratings on Solid Biosciences, with target prices ranging from $13.00 to $17.00, leading to an average rating of "Moderate Buy".

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) insider Gabriel Brooks sold 2,895 shares of the company's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $5.96, for a total value of $17,254.20. Following the completion of the transaction, the insider directly owned 33,819 shares in the company, valued at $201,561.24. This trade represents a 7.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Solid Biosciences Trading Down 2.3%

SLDB stock traded down $0.14 during midday trading on Tuesday, hitting $6.01. The company's stock had a trading volume of 600,313 shares, compared to its average volume of 1,733,383. The company has a market cap of $468.00 million, a PE ratio of -2.15 and a beta of 2.53. Solid Biosciences Inc. has a 12 month low of $2.41 and a 12 month high of $7.37. The firm's 50-day moving average is $5.75 and its 200-day moving average is $4.82.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. Analysts expect that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLDB. Wedbush decreased their target price on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Chardan Capital restated a "buy" rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Thursday, August 14th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Thursday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald set a $16.00 price objective on Solid Biosciences and gave the stock an "overweight" rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.00.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in Solid Biosciences by 32.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company's stock worth $667,000 after buying an additional 43,910 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Solid Biosciences by 373.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,640,821 shares of the company's stock worth $6,071,000 after buying an additional 1,294,450 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in Solid Biosciences in the 1st quarter worth $100,000. Knott David M Jr bought a new position in shares of Solid Biosciences during the 1st quarter valued at about $488,000. Finally, XTX Topco Ltd bought a new stake in Solid Biosciences in the first quarter worth about $151,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

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.

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