Solid Biosciences (NASDAQ:SLDB) CFO Sells $31,451.28 in Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 5,404 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this link.

Kevin Tan also recently made the following trade(s):

• On Wednesday, February 4th, Kevin Tan sold 14,783 shares of Solid Biosciences stock. The stock was sold at an average price of $6.44, for a total value of $95,202.52.
• On Monday, February 2nd, Kevin Tan sold 26,837 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value 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 value of $30,060.08.

Solid Biosciences Price Performance

NASDAQ:SLDB opened at $5.71 on Friday. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37. The company has a 50-day moving average of $5.95 and a 200 day moving average of $5.67. The firm has a market cap of $444.87 million, a PE ratio of -2.29 and a beta of 2.67.

Hedge Funds Weigh In On Solid Biosciences

A number of large investors have recently made changes to their positions in the business. Legal & General Group Plc boosted its position in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after buying an additional 4,534 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after buying an additional 5,991 shares during the last quarter. Creative Planning acquired a new stake in Solid Biosciences in the second quarter worth about $57,000. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Solid Biosciences by 233.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock worth $74,000 after acquiring an additional 10,585 shares during the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Monday, February 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Finally, Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Tuesday, November 4th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently 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.