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Solid Biosciences Inc. (NASDAQ:SLDB), a biotechnology company with a market capitalization of $133 million, recently reported that Ilan Ganot, a director at the company, engaged in stock transactions that included the sale of common stock valued at approximately $447. The sale involved 144 shares at a price of $3.1096 per share. InvestingPro data shows the stock has experienced significant volatility, with shares down over 65% in the past six months.
The transactions also included the acquisition of common stock through the conversion of restricted stock units. On January 27, 2025, Ganot acquired a total of 4,271 shares of common stock, which included 388 shares held indirectly by his wife and 3,883 shares held directly. These acquisitions were made at no cost as they were conversions of restricted stock units into common stock on a one-for-one basis. According to InvestingPro’s Fair Value analysis, the stock currently shows modest upside potential, with additional insights available in the comprehensive Pro Research Report.
Following these transactions, Ganot holds 94,648 shares individually and 4,042 shares jointly with Annie Ganot. Additionally, 19,394 shares are held under the Ilan Ganot 2017 Irrevocable Trust, with Adam Ganot and Annie Ganot as trustees. The company maintains strong liquidity with a current ratio of 7.85, indicating robust short-term financial health.
In other recent news, Solid Biosciences has made significant strides in gene therapy. The company has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) for its gene therapy candidate SGT-212, aimed at treating Friedreich’s ataxia (FA), a serious genetic neurodegenerative disease. This follows the company’s recent FDA approval for its Investigational New Drug (IND) application for SGT-212. Solid Biosciences plans to initiate a Phase 1b clinical trial in the second half of 2025 to assess the safety and tolerability of SGT-212.
Solid Biosciences has also entered into an exclusive collaboration with Mayo Clinic to develop gene therapies targeting genetic cardiac conditions. This partnership grants the company exclusive worldwide licenses to Mayo Clinic’s Suppression-Replacement gene therapy platform and several cardiac gene therapy programs.
The company has been the focus of several analyst ratings. Truist Securities initiated coverage on Solid Biosciences with a Buy rating and a $16 price target. JMP Securities also initiated coverage with a Market Outperform rating, recognizing Solid Biosciences’ potential in gene therapy and capsid engineering capabilities. These are among the recent developments that highlight Solid Biosciences’ ongoing efforts to advance its gene therapy technologies.
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