Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells 4,083 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the sale, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. This represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Soleno Therapeutics Stock Down 1.2 %

Shares of NASDAQ:SLNO traded down $0.56 during trading on Monday, hitting $45.90. 278,526 shares of the stock traded hands, compared to its average volume of 445,542. The company has a fifty day moving average price of $51.24 and a two-hundred day moving average price of $49.24. Soleno Therapeutics, Inc. has a 52-week low of $36.20 and a 52-week high of $60.92. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -13.83 and a beta of -1.47.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares during the period. Barclays PLC lifted its position in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares in the last quarter. Sofinnova Investments Inc. grew its stake in Soleno Therapeutics by 267.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after acquiring an additional 403,584 shares during the period. Samlyn Capital LLC increased its holdings in Soleno Therapeutics by 128.9% in the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock worth $20,443,000 after acquiring an additional 282,122 shares in the last quarter. Finally, TD Asset Management Inc raised its position in Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock worth $2,347,000 after acquiring an additional 36,534 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.