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 firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $6.44, for a total transaction of $95,202.52. Following the completion of the sale, the chief financial officer owned 94,201 shares in the company, valued at $606,654.44. This represents a 13.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 transaction of $30,060.08.

Solid Biosciences Price Performance

NASDAQ SLDB traded up $0.29 on Friday, hitting $6.52. The stock had a trading volume of 1,888,882 shares, compared to its average volume of 1,099,395. The business’s fifty day moving average price is $5.82 and its 200 day moving average price is $5.72. The stock has a market cap of $507.97 million, a price-to-earnings ratio of -2.62 and a beta of 2.67. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). As a group, sell-side analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP raised 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 worth $18,356,000 after buying an additional 1,470,000 shares during the last quarter. Nantahala Capital Management LLC increased its stake in shares of Solid Biosciences by 505.4% in the second 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 during the period. Geode Capital Management LLC raised its holdings in shares of Solid Biosciences by 184.5% during the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after purchasing an additional 979,294 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Solid Biosciences by 2,150.4% during the second quarter. Bank of America Corp DE now owns 824,600 shares of the company’s stock worth $4,016,000 after purchasing an additional 787,957 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Solid Biosciences during the first quarter valued at $2,338,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SLDB. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Wednesday, January 14th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Tuesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.