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

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

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB traded down $0.08 during trading on Tuesday, reaching $5.16. 1,162,352 shares of the stock traded hands, compared to its average volume of 1,110,578. The stock has a market cap of $402.02 million, a P/E ratio of -2.07 and a beta of 2.69. The stock has a 50-day moving average of $5.23 and a two-hundred day moving average of $5.60. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37.

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

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Solid Biosciences during the 4th quarter worth $118,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Solid Biosciences in the 3rd quarter worth $228,000. Armistice Capital LLC raised its holdings in Solid Biosciences by 134.0% in the 3rd quarter. Armistice Capital LLC now owns 936,000 shares of the company’s stock worth $5,775,000 after purchasing an additional 536,000 shares during the period. Alyeska Investment Group L.P. lifted its position in Solid Biosciences by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after purchasing an additional 41,984 shares in the last quarter. Finally, Vestal Point Capital LP lifted its position in Solid Biosciences by 97.7% during the third quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock valued at $18,356,000 after purchasing an additional 1,470,000 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLDB has been the subject of a number of recent analyst reports. Needham & Company LLC started coverage on Solid Biosciences in a research report on Thursday, December 4th. They issued a “buy” rating and a $16.00 target price for the company. Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.70.

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.