Ilan Ganot Sells 2,658 Shares of Solid Biosciences (NASDAQ:SLDB) Stock

Solid Biosciences Inc. (NASDAQ:SLDB) Director Ilan Ganot sold 2,658 shares of Solid Biosciences stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $5.82, for a total transaction of $15,469.56. Following the completion of the sale, the director owned 27,474 shares of the company’s stock, valued at $159,898.68. This trade represents a 8.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ilan Ganot also recently made the following trade(s):

• On Wednesday, February 4th, Ilan Ganot sold 7,205 shares of Solid Biosciences stock. The shares were sold at an average price of $6.44, for a total value of $46,400.20.
• On Wednesday, January 28th, Ilan Ganot sold 191 shares of Solid Biosciences stock. The stock was sold at an average price of $6.59, for a total value of $1,258.69.
• On Monday, January 5th, Ilan Ganot sold 1,053 shares of Solid Biosciences stock. The stock was sold at an average price of $5.43, for a total transaction of $5,717.79.

Solid Biosciences Stock Performance

Shares of SLDB opened at $5.79 on Friday. The business’s 50 day moving average price is $5.95 and its two-hundred day moving average price is $5.68. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $7.37. The firm has a market cap of $451.25 million, a PE ratio of -2.33 and a beta of 2.67.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of Solid Biosciences by 29.6% in the 4th quarter. Invesco Ltd. now owns 152,126 shares of the company’s stock worth $858,000 after purchasing an additional 34,758 shares in the last quarter. XTX Topco Ltd bought a new stake in Solid Biosciences in the fourth quarter worth $201,000. Vestal Point Capital LP lifted its position in Solid Biosciences by 95.5% during the fourth quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after purchasing an additional 2,840,000 shares during the last quarter. Armistice Capital LLC grew its stake in shares of Solid Biosciences by 179.1% in the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after buying an additional 1,676,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Solid Biosciences by 168.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 182,869 shares of the company’s stock valued at $1,031,000 after buying an additional 114,867 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Wall Street Analyst Weigh In

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