Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $108,061.20 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO opened at $44.52 on Thursday. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $60.92. The firm has a market cap of $1.92 billion, a P/E ratio of -13.41 and a beta of -1.47. The stock has a fifty day moving average price of $50.62 and a two-hundred day moving average price of $49.28.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, research analysts predict that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLNO. HC Wainwright reissued a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer lifted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $74.83.

Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank bought a new stake in shares of Soleno Therapeutics in the 2nd quarter worth approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Soleno Therapeutics in the third quarter worth approximately $155,000. Curi RMB Capital LLC bought a new position in shares of Soleno Therapeutics in the third quarter valued at $202,000. Intech Investment Management LLC acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at $262,000. Finally, Fred Alger Management LLC bought a new stake in shares of Soleno Therapeutics during the 3rd quarter worth $310,000. 97.42% of the stock is owned by institutional investors and hedge funds.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.