Ilan Ganot, a director at Solid Biosciences Inc. (NASDAQ:SLDB), recently executed a stock transaction involving the sale of 1,056 shares of common stock. The shares were sold on January 6, 2025, at $4.31 each, amounting to approximately $4,551. The transaction comes as the $157 million market cap company trades near its 52-week low of $3.85, with the stock showing significant volatility over recent months. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics.
Additionally, on January 3, 2025, Ganot acquired 2,994 shares through the conversion of restricted stock units into common stock. This acquisition, which did not involve a cash transaction, increased the total number of shares owned indirectly by Ganot to 12,501.
Following these transactions, Ganot's indirect holdings, attributed to his wife, stand at 11,445 shares. Meanwhile, his direct holdings, including shares held individually and jointly with Annie Ganot, amount to 94,807 shares.
In other recent news, Solid Biosciences has received approval from the U.S. Food and Drug Administration for its Investigational New Drug application for SGT-212, a gene therapy candidate for Friedreich’s ataxia. The company also announced its plans to initiate a Phase 1b clinical trial in the second half of 2025. Solid Biosciences' partnership with the Friedreich’s Ataxia Research Alliance aims to bring this therapy into clinical trials later this year.
In addition, Solid Biosciences has entered into an exclusive collaboration with Mayo Clinic to develop gene therapies targeting genetic cardiac conditions. This agreement grants Solid Biosciences exclusive worldwide licenses to Mayo Clinic's Suppression-Replacement gene therapy platform and several cardiac gene therapy programs.
JMP Securities initiated coverage on Solid Biosciences with a Market Outperform rating, recognizing the company's potential in gene therapy and its valuable capsid engineering capabilities. These are recent developments that highlight Solid Biosciences' ongoing efforts to develop and potentially commercialize its gene therapy technologies. Analysts suggest a favorable future for Solid Biosciences, particularly in light of its partnership with Mayo Clinic and its potential in cardiac precision genetic medicine.
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