Insider Selling: Solid Biosciences (NASDAQ:SLDB) Director Sells 2,658 Shares of Stock

Solid Biosciences Inc. (NASDAQ:SLDB) Director Ilan Ganot sold 2,658 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total transaction of $15,469.56. Following the completion of the sale, the director owned 27,474 shares of the company’s stock, valued at $159,898.68. The trade was a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Ilan Ganot also recently made the following trade(s):

• On Wednesday, February 4th, Ilan Ganot sold 7,205 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $46,400.20.
• On Wednesday, January 28th, Ilan Ganot sold 191 shares of Solid Biosciences stock. The shares were sold at an average price of $6.59, for a total value of $1,258.69.
• On Monday, January 5th, Ilan Ganot sold 1,053 shares of Solid Biosciences stock. The shares were sold at an average price of $5.43, for a total value of $5,717.79.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB traded up $0.42 during trading on Wednesday, reaching $5.92. 2,079,162 shares of the stock were exchanged, compared to its average volume of 1,194,126. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37. The stock has a fifty day moving average of $5.95 and a two-hundred day moving average of $5.68. The firm has a market cap of $461.23 million, a price-to-earnings ratio of -2.38 and a beta of 2.67.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SLDB. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. JPMorgan Chase & Co. cut their price objective 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. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Monday, February 9th. Ten 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.70.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Siren L.L.C. grew its holdings in Solid Biosciences by 3.7% during the 4th quarter. Siren L.L.C. now owns 7,690,405 shares of the company’s stock valued at $43,374,000 after buying an additional 274,500 shares in the last quarter. Vestal Point Capital LP lifted its holdings in shares of Solid Biosciences by 95.5% in the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after acquiring an additional 2,840,000 shares during the last quarter. Armistice Capital LLC increased its position in Solid Biosciences by 179.1% during the fourth quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock valued at $14,732,000 after acquiring an additional 1,676,000 shares during the last quarter. Nantahala Capital Management LLC raised its position in 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 purchasing an additional 1,421,968 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in 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 valued at $10,383,000 after acquiring an additional 41,984 shares during the period. 81.46% of the stock is owned by hedge funds and other institutional investors.

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.