Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang Sells 14,583 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang sold 14,583 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the sale, the vice president now owns 36,817 shares of the company’s stock, valued at $2,559,149.67. This trade represents a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Soleno Therapeutics Stock Down 0.8 %

Shares of Soleno Therapeutics stock traded down $0.54 during trading on Monday, reaching $71.45. The company’s stock had a trading volume of 4,004,984 shares, compared to its average volume of 649,585. The business’s 50-day moving average price is $49.44 and its 200-day moving average price is $50.23. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $73.97. The firm has a market cap of $3.28 billion, a PE ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Equities analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC increased its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth $34,000. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics in the fourth quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics in the fourth quarter valued at about $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics during the fourth quarter worth about $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLNO has been the topic of several research analyst reports. HC Wainwright upped their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Cantor Fitzgerald increased their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday. Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. Stifel Nicolaus increased their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird lifted their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $98.86.

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.