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 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 sale, the chief financial officer now owns 24,789 shares of the company’s stock, valued at $96,429.21. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Solid Biosciences Trading Down 6.6 %

NASDAQ SLDB opened at $3.09 on Wednesday. Solid Biosciences Inc. has a 1-year low of $3.03 and a 1-year high of $15.05. The firm’s fifty day simple moving average is $4.78 and its 200-day simple moving average is $6.57. The company has a market capitalization of $123.46 million, a PE ratio of -1.02 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, analysts predict that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences in the third quarter worth approximately $71,000. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences in the 2nd quarter valued at $58,000. MetLife Investment Management LLC boosted its holdings in Solid Biosciences by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares in the last quarter. Algert Global LLC acquired a new position in Solid Biosciences during the second quarter worth $82,000. Finally, Valence8 US LP bought a new position in Solid Biosciences during the third quarter valued at about $110,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLDB shares. Wedbush assumed coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. JMP Securities initiated coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Friday, January 10th. JPMorgan Chase & Co. decreased their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.30.

About Solid Biosciences

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.