Solid Biosciences (NASDAQ:SLDB) CFO Kevin Tan Sells 14,783 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 14,783 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $6.44, for a total value of $95,202.52. Following the completion of the sale, the chief financial officer owned 94,201 shares in the company, valued at approximately $606,654.44. The trade was a 13.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, February 2nd, Kevin Tan sold 26,837 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $172,830.28.
• On Tuesday, January 13th, Kevin Tan sold 5,704 shares of Solid Biosciences stock. The stock was sold at an average price of $5.27, for a total value of $30,060.08.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB traded up $0.29 on Friday, hitting $6.52. 1,888,882 shares of the company’s stock were exchanged, compared to its average volume of 1,099,395. The stock has a market capitalization of $507.97 million, a price-to-earnings ratio of -2.62 and a beta of 2.67. Solid Biosciences Inc. has a 12 month low of $2.41 and a 12 month high of $7.37. The business’s 50 day simple moving average is $5.82 and its two-hundred day simple moving average is $5.72.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Equities analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Institutional Trading of Solid Biosciences

A number of hedge funds have recently bought and sold shares of the stock. Vestal Point Capital LP boosted its position in Solid Biosciences by 97.7% during the 3rd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock valued at $18,356,000 after acquiring an additional 1,470,000 shares in the last quarter. Nantahala Capital Management LLC raised its position in shares of Solid Biosciences by 505.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after acquiring an additional 1,421,968 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Solid Biosciences by 2.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock worth $10,383,000 after purchasing an additional 41,984 shares during the last quarter. Franklin Resources Inc. boosted its position in Solid Biosciences by 28.9% during the second quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock valued at $7,788,000 after purchasing an additional 358,473 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Solid Biosciences by 184.5% during the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after purchasing an additional 979,294 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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. Wall Street Zen cut Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Barclays set a $9.00 price objective on Solid Biosciences and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.70.

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.