Solid Biosciences (NASDAQ:SLDB) CFO Sells $30,060.08 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 5,704 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $5.27, for a total value of $30,060.08. Following the transaction, the chief financial officer owned 46,100 shares of the company’s stock, valued at approximately $242,947. This trade represents a 11.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Solid Biosciences Trading Down 1.5%

NASDAQ SLDB traded down $0.08 on Tuesday, reaching $5.16. 1,162,352 shares of the stock were exchanged, compared to its average volume of 1,110,578. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.37. The firm has a market capitalization of $402.02 million, a PE ratio of -2.07 and a beta of 2.69. The company’s 50-day simple moving average is $5.23 and its two-hundred day simple moving average is $5.60.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results 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). Sell-side analysts forecast that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in Solid Biosciences by 32.2% during the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after purchasing an additional 43,910 shares during the last quarter. Bollard Group LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter worth about $1,761,000. Geode Capital Management LLC raised its position in shares of 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 buying an additional 979,294 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Solid Biosciences in the 2nd quarter valued at about $54,000. Finally, Franklin Resources Inc. grew its position in 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 in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SLDB shares. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Barclays set a $9.00 target price on Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Tuesday, November 4th. Wall Street Zen lowered shares of Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.70.

Solid Biosciences Company Profile

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.