Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 128,653 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 128,653 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the transaction, the insider now directly owns 55,789 shares of the company’s stock, valued at $3,811,504.48. This represents a 69.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Soleno Therapeutics Stock Down 0.8 %

Soleno Therapeutics stock traded down $0.54 during mid-day trading on Monday, hitting $71.45. 4,004,984 shares of the company were exchanged, compared to its average volume of 649,585. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $73.97. The business has a fifty day moving average of $48.94 and a 200 day moving average of $50.08. The company has a market capitalization of $3.28 billion, a PE ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). Research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Soleno Therapeutics by 14.5% during the 4th quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after acquiring an additional 99,095 shares during the last quarter. California State Teachers Retirement System boosted its stake in Soleno Therapeutics by 23.6% in the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock worth $988,000 after purchasing an additional 4,201 shares in the last quarter. Polar Asset Management Partners Inc. grew its holdings in shares of Soleno Therapeutics by 296.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock worth $5,637,000 after purchasing an additional 93,800 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock valued at $1,236,000 after buying an additional 5,462 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cantor Fitzgerald upped their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. HC Wainwright raised their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Guggenheim reissued a “buy” rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday. Finally, Laidlaw raised their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics presently has an average rating of “Buy” and a consensus price target of $98.86.

Soleno Therapeutics Company Profile

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.