Solid Biosciences (NASDAQ:SLDB) COO Sells $43,469.58 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) COO David Howton sold 7,469 shares of the firm’s 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 $43,469.58. Following the completion of the transaction, the chief operating officer owned 105,077 shares in the company, valued at $611,548.14. The trade was a 6.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Solid Biosciences Stock Down 2.9%

SLDB opened at $5.71 on Friday. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37. The company has a 50 day moving average of $5.95 and a two-hundred day moving average of $5.67. The company has a market cap of $444.87 million, a P/E ratio of -2.29 and a beta of 2.67.

Wall Street Analyst Weigh In

SLDB has been the subject of several analyst reports. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Tuesday, November 4th. Barclays set a $9.00 price target on Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. dropped their price objective 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 reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.70.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in SLDB. Siren L.L.C. increased its stake in shares of Solid Biosciences by 3.7% in the fourth quarter. Siren L.L.C. now owns 7,690,405 shares of the company’s stock worth $43,374,000 after buying an additional 274,500 shares during the last quarter. Vestal Point Capital LP grew its holdings in Solid Biosciences by 95.5% during the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock worth $32,797,000 after acquiring an additional 2,840,000 shares in the last quarter. Armistice Capital LLC increased its position in shares of Solid Biosciences by 179.1% in the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after purchasing an additional 1,676,000 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Solid Biosciences by 505.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after purchasing an additional 1,421,968 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in shares of Solid Biosciences by 2.6% in the 3rd 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. 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.