Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $265,156.02 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 3,782 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the sale, the insider now owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. This represents a 12.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $72.16 on Friday. Soleno Therapeutics, Inc. has a one year low of $36.61 and a one year high of $74.00. The stock has a market cap of $3.31 billion, a PE ratio of -21.73 and a beta of -2.29. The stock has a 50-day moving average of $50.80 and a two-hundred day moving average of $50.65.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on SLNO. Guggenheim reissued a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. UBS Group set a $105.00 price target on Soleno Therapeutics in a research report on Thursday, March 27th. Laidlaw raised their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $99.63.

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.