Solid Biosciences Inc. (NASDAQ:SLDB) Short Interest Update

Solid Biosciences Inc. (NASDAQ:SLDB) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 8,602,169 shares, a drop of 14.2% from the December 31st total of 10,029,089 shares. Currently, 12.8% of the company’s shares are short sold. Based on an average daily volume of 1,147,561 shares, the short-interest ratio is presently 7.5 days. Based on an average daily volume of 1,147,561 shares, the short-interest ratio is presently 7.5 days. Currently, 12.8% of the company’s shares are short sold.

Trending Headlines about Solid Biosciences

Here are the key news stories impacting Solid Biosciences this week:

• Positive Sentiment: Analyst support: SLDB carries a consensus “Moderate Buy” stance with a materially higher average price target (~$14.70), which can underpin demand and limit downside after negative headlines.
• Neutral Sentiment: Institutional backing: institutional ownership is high (~81%) and several institutions have recently increased or established positions — that stabilizes the shareholder base but may mute immediate volatility. Read More.
• Neutral Sentiment: Technical/market context: trading volume is slightly above average and the stock is trading inside its 52‑week range, suggesting mixed directional conviction among broader investors. Read More.
• Negative Sentiment: Large, coordinated insider selling: on Feb. 2 several senior executives sold sizeable stakes at an average price of about $6.44 — CEO Alexander Cumbo (~80,258 shares), COO David Howton (~37,771), CTO Paul Herzich (~26,250), CFO Kevin Tan (~26,837) and other insiders — totaling roughly ~226k shares for ~ $1.4–1.5M and individual position cuts of ~20–25%. Those sales can sap short‑term investor confidence and add supply into the market. Representative SEC filings and coverage: Read More., Read More., Read More.

Analyst Ratings Changes

Several research firms have recently weighed in on SLDB. Wall Street Zen cut shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $14.70.

Insider Activity

In other Solid Biosciences news, CEO Alexander Cumbo sold 80,258 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $516,861.52. Following the sale, the chief executive officer owned 270,931 shares in the company, valued at approximately $1,744,795.64. The trade was a 22.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gabriel Brooks sold 28,335 shares of Solid Biosciences stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $182,477.40. Following the completion of the transaction, the insider directly owned 96,708 shares in the company, valued at approximately $622,799.52. This represents a 22.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 455,007 shares of company stock worth $2,892,048. 13.63% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its position in Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after acquiring an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after purchasing an additional 5,991 shares during the last quarter. Creative Planning bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $57,000. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in shares of Solid Biosciences by 233.8% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock valued at $74,000 after buying an additional 10,585 shares during the last quarter. 81.46% of the stock is owned by institutional investors.

Solid Biosciences Stock Performance

SLDB stock opened at $6.54 on Wednesday. The stock’s 50 day simple moving average is $5.78 and its 200 day simple moving average is $5.71. The company has a market cap of $509.53 million, a P/E ratio of -2.63 and a beta of 2.67. Solid Biosciences has a fifty-two week low of $2.41 and a fifty-two week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Equities analysts predict that Solid Biosciences will post -2.84 earnings per share for the current year.

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.