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

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

Solid Biosciences Stock Down 10.1 %

NASDAQ:SLDB opened at $3.31 on Tuesday. Solid Biosciences Inc. has a twelve month low of $3.28 and a twelve month high of $15.05. The company has a fifty day moving average of $4.88 and a 200-day moving average of $6.61. The firm has a market capitalization of $132.25 million, a P/E ratio of -1.09 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). On average, analysts anticipate that Solid Biosciences Inc. will post -2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Truist Financial started coverage on shares of Solid Biosciences in a research note on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price on the stock. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Wedbush began coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Nine analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $15.30.

Hedge Funds Weigh In On Solid Biosciences

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Solid Biosciences in the second quarter valued at $392,000. Rhumbline Advisers bought a new position in Solid Biosciences in the 2nd quarter valued at about $191,000. Acadian Asset Management LLC bought a new position in Solid Biosciences in the 2nd quarter valued at about $379,000. American Century Companies Inc. boosted its stake in Solid Biosciences by 39.9% during the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after purchasing an additional 9,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Solid Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock worth $402,000 after purchasing an additional 5,287 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors.

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.