Kevin Tan Sells 5,704 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 5,704 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $5.27, for a total transaction of $30,060.08. Following the sale, the chief financial officer directly owned 46,100 shares of the company’s stock, valued at $242,947. This represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Solid Biosciences Price Performance

Shares of SLDB opened at $5.81 on Thursday. The firm has a market capitalization of $452.66 million, a price-to-earnings ratio of -2.33 and a beta of 2.69. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37. The company has a 50-day moving average of $5.29 and a 200 day moving average of $5.61.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a report on Wednesday, October 8th. Barclays set a $9.00 price objective on shares of Solid Biosciences and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Solid Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.70.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after acquiring an additional 4,534 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $54,000. Creative Planning purchased a new stake in Solid Biosciences during the second quarter valued at approximately $57,000. Finally, Russell Investments Group Ltd. boosted its stake in Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.