Key Points
- Insider sale: Gabriel Brooks sold 4,374 Solid Biosciences shares at an average price of $5.62, generating $24,581.88. His remaining stake totaled 97,241 shares, worth approximately $546,494.
- Stock and earnings: SLDB opened at $6.40, with a market capitalization of about $686 million. Solid Biosciences reported a quarterly loss of $0.38 per share, beating the consensus estimate of a $0.46 loss.
- Analyst outlook: The stock has a consensus “Moderate Buy” rating and an average price target of $18.79, despite one sell rating. Institutional investors own approximately 81.46% of the company.
Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) insider Gabriel Brooks sold 4,374 shares of the business's stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $5.62, for a total transaction of $24,581.88. Following the completion of the sale, the insider directly owned 97,241 shares of the company's stock, valued at approximately $546,494.42. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Solid Biosciences Price Performance
Shares of SLDB stock opened at $6.40 on Wednesday. The company has a market capitalization of $686.24 million, a P/E ratio of -3.35 and a beta of 2.47. The company's 50-day simple moving average is $8.31 and its two-hundred day simple moving average is $8.18. Solid Biosciences Inc. has a one year low of $3.79 and a one year high of $11.45.
Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.08. On average, research analysts expect that Solid Biosciences Inc. will post -1.66 EPS for the current fiscal year.
Institutional Trading of Solid Biosciences
Hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its holdings in Solid Biosciences by 34.5% during the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company's stock worth $289,000 after acquiring an additional 7,410 shares in the last quarter. AXQ Capital LP purchased a new position in Solid Biosciences during the 2nd quarter valued at about $197,000. Wellington Management Group LLP increased its position in Solid Biosciences by 14.9% during the 2nd quarter. Wellington Management Group LLP now owns 185,365 shares of the company's stock valued at $1,852,000 after purchasing an additional 24,087 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at about $2,429,000. Finally, Perceptive Advisors LLC raised its holdings in shares of Solid Biosciences by 0.6% in the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company's stock valued at $85,728,000 after purchasing an additional 73,107 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Wall Street Zen upgraded Solid Biosciences from a "strong sell" rating to a "sell" rating in a report on Saturday, July 4th. Loop Capital set a $25.00 price objective on Solid Biosciences in a report on Monday, September 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Solid Biosciences in a report on Thursday, October 15th. Royal Bank Of Canada initiated coverage on Solid Biosciences in a research report on Wednesday, September 16th. They set an "outperform" rating and a $18.00 target price for the company. Finally, Truist Financial upped their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Solid Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $18.79.
Read Our Latest Stock Analysis on Solid Biosciences
Solid Biosciences Company Profile
(
Get Free Report)
Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company's research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.
Solid Biosciences' lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
