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Kahn Clare, a director at Solid Biosciences Inc. (NASDAQ:SLDB), recently acquired shares in the company, according to a recent SEC filing. The stock, which has shown a strong 43% return year-to-date according to InvestingPro data, has caught attention from analysts with price targets ranging from $11 to $20. On March 11, Clare purchased 1,860 shares of common stock at a price of $5.3357 per share, amounting to a total transaction value of $9,924. Following this acquisition, Clare now holds a total of 2,960 shares directly. The transaction reflects a continued investment in the company, which is focused on developing treatments for Duchenne muscular dystrophy. The company maintains a healthy balance sheet with more cash than debt and a current ratio of 5.2, though InvestingPro analysis indicates the stock is currently trading near its Fair Value. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively with an InvestingPro subscription.
In other recent news, Solid Biosciences reported its fourth quarter 2024 financial results, highlighting encouraging data from its Phase 1/2 INSPIRE DUCHENNE study. The study focuses on SGT-003, a gene therapy for Duchenne muscular dystrophy, which demonstrated a mean 90-day micro-dystrophin expression of 110% of normal levels. This achievement has led H.C. Wainwright to raise the price target for Solid Biosciences to $20, maintaining a Buy rating. JMP Securities also reaffirmed their Market Outperform rating with a $15 target, citing promising data and a recent capital raise that addresses financial concerns. The company’s stock and warrant offering aims to raise approximately $200 million, with participation from investors like Adage Capital Partners (WA:CPAP) and Bain Capital Life Sciences. The funds are expected to support the company’s ongoing clinical and regulatory efforts. Analysts from Truist and Leerink Partners have noted the therapy’s potential to impact the DMD treatment landscape significantly. Solid Biosciences plans to engage with the FDA for a possible accelerated approval pathway for SGT-003.
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