Solid Biosciences (NASDAQ:SLDB) CFO Kevin Tan Sells 5,404 Shares

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 5,404 shares of Solid Biosciences stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.82, for a total transaction of $31,451.28. Following the sale, the chief financial officer directly owned 99,422 shares in the company, valued at approximately $578,636.04. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, February 4th, Kevin Tan sold 14,783 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $95,202.52.
• On Monday, February 2nd, Kevin Tan sold 26,837 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $172,830.28.
• 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 value of $30,060.08.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $5.92 on Thursday. The firm’s 50-day moving average is $5.95 and its two-hundred day moving average is $5.68. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $7.37. The firm has a market capitalization of $461.23 million, a PE ratio of -2.38 and a beta of 2.67.

Key Headlines Impacting Solid Biosciences

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

• Neutral Sentiment: Coverage explaining the intraday lift — AAII published an item titled “Why Solid Biosciences Inc.’s (SLDB) Stock Is Up 7.64%” that summarizes market reaction and likely drivers for the rise; read it for context. Why SLDB Stock Is Up
• Neutral Sentiment: Technical and valuation context: 12?month range roughly $2.41–$7.37, market cap ? $461M, negative P/E (loss-making), 50?day SMA ~$5.95 and 200?day SMA ~$5.68 — the stock is trading near its recent highs, so momentum/coverage can amplify moves.
• Negative Sentiment: CEO Alexander Cumbo sold 16,644 shares at an average $5.82 (? $96,868); his post?sale holding is 235,405 shares (down ~6.6%). Filing: CEO Sale Filing
• Negative Sentiment: CFO Kevin Tan sold 5,404 shares at an average $5.82 (? $31,451); post?sale holding 99,422 shares (down ~5.2%). Filing: CFO Sale Filing
• Negative Sentiment: COO David T. Howton sold 7,469 shares at $5.82 (? $43,470); post?sale holding 105,077 shares (down ~6.6%). Filing: COO Sale Filing
• Negative Sentiment: CTO Paul Herzich sold 3,616 shares at $5.82 (? $21,045); post?sale holding 72,638 shares (down ~4.7%). Filing: CTO Sale Filing
• Negative Sentiment: Director Ilan Ganot sold 2,658 shares at $5.82 (? $15,470); post?sale holding 27,474 shares (down ~8.8%). Filing: Director Sale Filing
• Negative Sentiment: Insider Jessie Hanrahan sold 4,134 shares at $5.82 (? $24,060); post?sale holding 74,318 shares (down ~5.3%). Filing: Insider Sale Filing

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLDB. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Chardan Capital reissued a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Monday, February 9th. Finally, 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. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.70.

Institutional Trading of Solid Biosciences

A number of large investors have recently bought and sold shares of SLDB. Legal & General Group Plc boosted its stake 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 worth $29,000 after buying an additional 4,063 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares in the last quarter. Creative Planning acquired a new stake in Solid Biosciences in the second quarter valued at about $57,000. Russell Investments Group Ltd. boosted its holdings in Solid Biosciences by 142.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after purchasing an additional 5,991 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of Solid Biosciences by 233.8% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.