Solid Biosciences Inc. (NASDAQ:SLDB) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 504,870 shares of the company’s stock after selling 8,616 shares during the period. Geode Capital Management LLC owned about 1.26% of Solid Biosciences worth $3,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in shares of Solid Biosciences during the 2nd quarter valued at about $58,000. The Manufacturers Life Insurance Company acquired a new position in Solid Biosciences in the third quarter valued at approximately $71,000. Ground Swell Capital LLC bought a new position in shares of Solid Biosciences during the second quarter valued at approximately $76,000. Algert Global LLC acquired a new stake in shares of Solid Biosciences during the 2nd quarter worth approximately $82,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $92,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $4.10 on Tuesday. Solid Biosciences Inc. has a fifty-two week low of $3.85 and a fifty-two week high of $15.05. The firm’s 50 day simple moving average is $5.02 and its 200-day simple moving average is $6.67. The company has a market cap of $163.82 million, a P/E ratio of -1.35 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, analysts expect that Solid Biosciences Inc. will post -2.85 EPS for the current fiscal year.

Insider Activity at Solid Biosciences

In related news, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the transaction, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. The trade was a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO David T. Howton sold 5,072 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares in the company, valued at approximately $87,712.80. This represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,719 shares of company stock valued at $135,457. Company insiders own 13.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, December 12th. Wedbush initiated coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price for the company. Finally, Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Eight equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $15.22.

Solid Biosciences 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.