James H. Mackaness Sells 90,622 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 90,622 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the sale, the chief financial officer now directly owns 105,176 shares of the company’s stock, valued at $7,303,421.44. This represents a 46.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Soleno Therapeutics Trading Down 0.8 %

Shares of Soleno Therapeutics stock traded down $0.54 during trading on Monday, hitting $71.45. The stock had a trading volume of 4,004,984 shares, compared to its average volume of 649,585. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $73.97. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70. The business’s 50-day moving average is $49.44 and its 200 day moving average is $50.23.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results 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). As a group, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares in the last quarter. Barclays PLC raised its position in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after purchasing an additional 31,467 shares in the last quarter. Emerald Advisers LLC lifted its stake in Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock worth $26,112,000 after purchasing an additional 267,585 shares during the last quarter. State Street Corp boosted its holdings in shares of Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock valued at $9,779,000 after purchasing an additional 24,953 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.