Ilan Ganot Sells 2,658 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

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

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

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

Solid Biosciences Stock Up 7.6%

Shares of SLDB stock traded up $0.42 during mid-day trading on Wednesday, hitting $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 52-week low of $2.41 and a 52-week high of $7.37. The company has a market cap of $461.23 million, a PE ratio of -2.38 and a beta of 2.67. The firm has a fifty day moving average of $5.95 and a 200 day moving average of $5.68.

Analyst Ratings Changes

Several brokerages recently weighed in on SLDB. JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. 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. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Monday, February 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research note 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 currently has an average rating of “Moderate Buy” and a consensus price target of $14.70.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLDB. Bollard Group LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth approximately $1,761,000. Geode Capital Management LLC boosted its stake in Solid Biosciences by 184.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after acquiring an additional 979,294 shares during the last quarter. Franklin Resources Inc. boosted its stake in Solid Biosciences by 28.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock valued at $7,788,000 after acquiring an additional 358,473 shares during the last quarter. ProShare Advisors LLC acquired a new position in Solid Biosciences during the 2nd quarter worth $80,000. Finally, Knott David M Jr increased its position in shares of Solid Biosciences by 23.1% in the 2nd quarter. Knott David M Jr now owns 162,440 shares of the company’s stock worth $791,000 after purchasing an additional 30,440 shares during the last quarter. 81.46% of the stock is currently 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.