# Solid Biosciences Inc. (SLDB)

> Source: Nexqual · https://nexqual.com/SLDB · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Solid Biosciences Inc. (SLDB), nexqual.com/SLDB" · informational, not investment advice.

**Price:** USD 6.39 (-1.39% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 6.48 · day 6.27–6.64 · 52w 3.79–11.45 · market cap $685M · NMS

## Key facts
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $25K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.64 on a 1–5 scale) (14 analysts), mean target USD 18.71 (range 11–26).
- Total return with dividends: 1Y +22.0% vs S&P 500 +14.8%; 5Y -79.0% vs S&P 500 +79.1%.
- Next earnings: 2026-11-02 (date not yet confirmed by the company), EPS estimate USD -0.41, revenue estimate $0K. All companies reporting that day: https://nexqual.com/earnings/2026-11-02
- Dividend: SLDB paid no cash dividend in the last five years.
- Short interest: 13.04% of float (as of 2026-10-15), 7.9 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $13.6M | $8.1M | — | — | — | — |
| Operating income | -$72.3M | -$106M | -$104M | -$130M | -$179M | -$212M |
| Net income | -$72.2M | -$86.0M | -$96.0M | -$125M | -$174M | -$207M |
| EPS (diluted) | -$10.14 | -$10.10 | -$4.83 | -$3.06 | -$1.99 | — |
| Free cash flow | -$79.0M | -$101M | -$95.7M | -$101M | -$157M | -$188M |
| Operating margin | -530.5% | -1315.2% | — | — | — | — |
| Net margin | -530.0% | -1062.3% | — | — | — | — |
| Revenue growth | — | -40.6% | — | — | — | — |
| Cash + short-term investments | $208M | $214M | $124M | $149M | $188M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 1.8x · FCF yield -27.41% · Earnings yield -30.23%

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-19 | Brooks Gabriel | Chief Medical Officer | 4,374 | $25K | 4.3% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 1.64 on a 1–5 scale), 14 analysts; mean target USD 18.71 (low 11, high 26).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | UBS | Initiated | Buy | $20 |
| 2026-09-16 | RBC Capital | Initiated | Outperform | $18 |
| 2026-09-14 | HC Wainwright & Co. | Reiterated | Buy | $25 |
| 2026-08-27 | Cantor Fitzgerald | Target raised | Overweight | $16 → $26 |
| 2026-08-21 | Truist Securities | Target raised | Buy | $16 → $20 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +22.0% | -79.0% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +22.2% | -26.8% |
| Volatility (annualized) | 78.4% | 90.8% |
| Max drawdown | -51.0% (Jul 2026→Oct 2026) | -94.7% (Nov 2021→Oct 2023) |

## Dividends
SLDB paid no cash dividend in the last five years.

## Short interest
12,300,065 shares sold short, 13.04% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 17,106,152 shares (-28.1%). Days to cover: 7.9 (short shares ÷ average daily volume).

## Peers (Biotechnology)
LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.20% · ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/SLDB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SLDB's own 10-K filed 2026-03-19 (https://www.sec.gov/Archives/edgar/data/1707502/000119312526115928/sldb-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Ultragenyx Pharmaceutical Inc. (RARE) | "In October 2020, the license agreement was amended such that we were required to pay the University of Washington $375 thousand in connection with the execution of the collaboration and license agreement ("the Collaborat…" |
| Partner | FA212 | "In September 2024, we entered into a purchase agreement with FA212 for the purchase of certain intellectual property, including patents and assigned licenses, related to a preclinical drug candidate, which we now refer t…" |
| Partner | ICS Maugeri | "In June 2023 we entered into a license agreement (the "Maugeri License Agreement") with ICS Maugeri S.p.A." |
| Partner | Jefferies | "To date, we have financed our operations primarily through the sale of securities in private placements and follow-on offerings, the sale of common stock in our initial public offering, and sales of common stock under ou…" |

Other companies that name SLDB in their own reports (relationship from SLDB's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Lexeo Therapeutics, Inc. (LXEO) | 10-K 2026-03-30 | "With respect to LX2006, we are aware of clinical stage gene therapy programs in development at Solid Biosciences Inc. and those being developed in collaborations between Voyager Therapeutics, Inc. and…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.41 | $-0.48 | +$0.06 | $0 | 14 |
| Next quarter (ends 2026-12-31) | $-0.42 | $-0.49 | +$0.06 | $0 | 14 |
| Current fiscal year (ends 2026-12-31) | $-1.76 | $-1.96 | +$0.20 | $0 | 14 |
| Next fiscal year (ends 2027-12-31) | $-1.71 | $-1.96 | +$0.25 | $8.6M | 14 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±16.3%; last 8 reports averaged ±25.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 22 | 375.9% | ±16.3% |
| 2026-12-18 | 50 | 156.6% | ±35.6% |
| 2027-01-15 | 78 | 152.3% | ±46.9% |
| 2027-03-19 | 141 | 155.8% | ±75.6% |
| 2027-06-17 | 231 | 144.3% | ±87.7% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Mar 6, 2026 | Quarter ended Dec 31, 2025 | −$0.53 | −$0.52 | Miss −1.9% | +43.0% |
| Nov 3, 2025 | Quarter ended Sep 30, 2025 | −$0.48 | −$0.44 | Miss −9.1% | -18.3% |
| Feb 18, 2025 | — | — | — | — | +60.5% |
| Jan 8, 2024 | — | — | — | — | +45.6% |
| Jan 9, 2023 | — | — | — | — | +1.7% |
| Aug 11, 2022 | — | — | — | — | +6.5% |
| Apr 27, 2022 | — | — | — | — | -24.1% |
| Jan 10, 2022 | — | — | — | — | -1.3% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-14 | Schedule 13D/A | Perceptive Advisors LLC, Joseph Edelman: 11.2% of shares, 5%+ holder that may seek to influence the company (amended) | https://www.sec.gov/Archives/edgar/data/1707502/000119312526352656/0001193125-26-352656-index.htm |
| 2026-08-14 | Schedule 13G/A | Vestal Point Capital, LP, Ryan Wilder: 4.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1707502/000090266426003502/0000902664-26-003502-index.htm |
| 2026-08-06 | 8-K | Other material event — “On August 6, 2026, Solid Biosciences Inc. (the "Company") filed a prospectus supplement (the "Prospectus Supplement") under the Company's universal shelf registration statement on Form S-3 (File No. 333-287325) that was originally filed with the Securities and Exchange Commission (the "SEC") on May 15, 2025 and was declared effective by the SEC on May 27, 2025 (the "Registration Statement"), relating to the offer and sale of a total of up to $200.0 million of shares of the Company's common stock, par value $0.001…” | https://www.sec.gov/Archives/edgar/data/1707502/000119312526338438/0001193125-26-338438-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1707502/000119312526337935/0001193125-26-337935-index.htm |
| 2026-08-06 | Schedule 13G | FMR LLC, Abigail P. Johnson: 7.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1707502/000031506626002128/0000315066-26-002128-index.htm |
| 2026-07-30 | Schedule 13G | BlackRock, Inc.: 6.5% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1707502/000201238326003093/0002012383-26-003093-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.