Kevin Tan Sells 4,073 Shares of Solid Biosciences Inc. (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) CFO Kevin Tan sold 4,073 shares of Solid Biosciences stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $3.89, for a total transaction of $15,843.97. Following the sale, the chief financial officer now owns 24,789 shares of the company’s stock, valued at approximately $96,429.21. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Solid Biosciences Price Performance

SLDB stock traded down $0.37 during midday trading on Monday, hitting $3.31. The stock had a trading volume of 553,034 shares, compared to its average volume of 816,412. The company’s 50-day moving average price is $4.88 and its 200 day moving average price is $6.61. The firm has a market cap of $132.25 million, a PE ratio of -1.09 and a beta of 2.05. Solid Biosciences Inc. has a 12-month low of $3.28 and a 12-month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, sell-side analysts anticipate that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wedbush began coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. Truist Financial assumed coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Friday. Nine equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.30.

Institutional Trading of Solid Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in shares of Solid Biosciences by 412.1% during the 3rd quarter. Barclays PLC now owns 62,856 shares of the company’s stock worth $439,000 after acquiring an additional 50,582 shares during the period. XTX Topco Ltd purchased a new position in Solid Biosciences during the third quarter worth approximately $121,000. Wellington Management Group LLP raised its stake in Solid Biosciences by 183.6% during the third quarter. Wellington Management Group LLP now owns 119,804 shares of the company’s stock worth $835,000 after purchasing an additional 77,564 shares during the period. State Street Corp boosted its holdings in shares of Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after purchasing an additional 37,130 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after buying an additional 330,234 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.