Kevin Tan Sells 26,837 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 26,837 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $6.44, for a total transaction of $172,830.28. Following the completion of the transaction, the chief financial officer owned 108,984 shares in the company, valued at $701,856.96. The trade was a 19.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Kevin Tan also recently made the following trade(s):

• On Tuesday, January 13th, Kevin Tan sold 5,704 shares of Solid Biosciences stock. The shares were sold at an average price of $5.27, for a total transaction of $30,060.08.

Solid Biosciences Trading Up 1.7%

NASDAQ:SLDB opened at $6.54 on Wednesday. The firm’s fifty day simple moving average is $5.78 and its 200 day simple moving average is $5.71. Solid Biosciences Inc. has a twelve month low of $2.41 and a twelve month high of $7.37. The firm has a market capitalization of $509.53 million, a price-to-earnings ratio of -2.63 and a beta of 2.67.

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

Institutional Trading of Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after purchasing an additional 4,534 shares during the period. Creative Planning bought a new position in Solid Biosciences in the 2nd quarter worth $57,000. Russell Investments Group Ltd. lifted its position in shares of Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after purchasing an additional 5,991 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Solid Biosciences by 233.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock worth $74,000 after buying an additional 10,585 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SLDB shares. Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. JPMorgan Chase & Co. lowered their price target on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Barclays set a $9.00 price target on shares of Solid Biosciences and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.70.

Solid Biosciences News Roundup

Here are the key news stories impacting Solid Biosciences this week:

• Positive Sentiment: Analyst support: SLDB carries a consensus “Moderate Buy” stance with a materially higher average price target (~$14.70), which can underpin demand and limit downside after negative headlines.
• Neutral Sentiment: Institutional backing: institutional ownership is high (~81%) and several institutions have recently increased or established positions — that stabilizes the shareholder base but may mute immediate volatility. Read More.
• Neutral Sentiment: Technical/market context: trading volume is slightly above average and the stock is trading inside its 52‑week range, suggesting mixed directional conviction among broader investors. Read More.
• Negative Sentiment: Large, coordinated insider selling: on Feb. 2 several senior executives sold sizeable stakes at an average price of about $6.44 — CEO Alexander Cumbo (~80,258 shares), COO David Howton (~37,771), CTO Paul Herzich (~26,250), CFO Kevin Tan (~26,837) and other insiders — totaling roughly ~226k shares for ~ $1.4–1.5M and individual position cuts of ~20–25%. Those sales can sap short‑term investor confidence and add supply into the market. Representative SEC filings and coverage: Read More., Read More., Read More.

About Solid Biosciences

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.