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 the stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Solid Biosciences Price Performance

Shares of SLDB stock traded down $0.37 during midday trading on Monday, hitting $3.31. The company had a trading volume of 553,034 shares, compared to its average volume of 816,412. The stock has a market cap of $132.25 million, a price-to-earnings ratio of -1.09 and a beta of 2.05. The company’s 50 day simple moving average is $4.88 and its 200 day simple moving average is $6.61. Solid Biosciences Inc. has a 52-week low of $3.28 and a 52-week high of $15.05.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SLDB. Bank of New York Mellon Corp purchased a new stake in Solid Biosciences in the 2nd quarter valued at approximately $392,000. Rhumbline Advisers purchased a new stake in shares of Solid Biosciences in the second quarter valued at approximately $191,000. Acadian Asset Management LLC acquired a new position in Solid Biosciences during the second quarter worth $379,000. American Century Companies Inc. raised its position in Solid Biosciences by 39.9% in the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after acquiring an additional 9,853 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Solid Biosciences by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after acquiring an additional 5,287 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLDB has been the subject of a number of research analyst reports. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Wedbush started coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price on the stock. Truist Financial initiated coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $15.30.

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.