Solid Biosciences (NASDAQ:SLDB) CEO Sells $96,868.08 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CEO Alexander Cumbo sold 16,644 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $5.82, for a total value of $96,868.08. Following the transaction, the chief executive officer directly owned 235,405 shares in the company, valued at $1,370,057.10. This trade represents a 6.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alexander Cumbo also recently made the following trade(s):

• On Wednesday, February 4th, Alexander Cumbo sold 48,913 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total transaction of $314,999.72.
• On Monday, February 2nd, Alexander Cumbo sold 80,258 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $516,861.52.
• On Monday, February 2nd, Alexander Cumbo sold 80,258 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total transaction of $516,861.52.
• On Wednesday, December 3rd, Alexander Cumbo sold 10,808 shares of Solid Biosciences stock. The shares were sold at an average price of $5.11, for a total transaction of $55,228.88.

Solid Biosciences Stock Performance

SLDB opened at $5.71 on Friday. The company has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $5.67. The firm has a market capitalization of $444.87 million, a PE ratio of -2.29 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.

Analyst Ratings Changes

SLDB has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Monday, February 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Barclays set a $9.00 price objective on shares of Solid Biosciences and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Solid Biosciences 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 the stock. Vestal Point Capital LP increased its position in shares of Solid Biosciences by 95.5% during the fourth 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 holdings in Solid Biosciences by 179.1% during 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 in the last quarter. Nantahala Capital Management LLC increased its holdings in Solid Biosciences by 505.4% during 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 in the last quarter. Monashee Investment Management LLC acquired a new stake in shares of Solid Biosciences in the 4th quarter valued at about $7,613,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Solid Biosciences by 184.5% in the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after purchasing an additional 979,294 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.