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

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 5,404 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total value of $31,451.28. Following the transaction, the chief financial officer owned 99,422 shares in the company, valued at $578,636.04. The trade was a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were 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 transaction of $30,060.08.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB traded up $0.42 during trading on Wednesday, hitting $5.92. 2,079,162 shares of the company traded hands, compared to its average volume of 1,194,126. The firm has a market capitalization of $461.23 million, a price-to-earnings ratio of -2.38 and a beta of 2.67. The business’s fifty day moving average is $5.95 and its 200 day moving average is $5.68. Solid Biosciences Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $7.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC bought a new stake in shares of Solid Biosciences in the second quarter valued at approximately $1,761,000. Geode Capital Management LLC lifted its position 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 acquiring an additional 979,294 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Solid Biosciences by 28.9% in the second quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock worth $7,788,000 after acquiring an additional 358,473 shares during the period. Knott David M Jr grew its position in shares of Solid Biosciences by 23.1% in the second quarter. Knott David M Jr now owns 162,440 shares of the company’s stock valued at $791,000 after purchasing an additional 30,440 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Solid Biosciences in the second quarter valued at $80,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Monday, February 9th. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Tuesday, November 4th. Barclays set a $9.00 price objective on shares of Solid Biosciences and gave the stock an “overweight” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.