James H. Mackaness Sells 4,083 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 4,083 shares of the business’s stock in a transaction that occurred on 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 owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO traded down $0.56 during trading on Monday, hitting $45.90. 278,526 shares of the company were exchanged, compared to its average volume of 445,542. Soleno Therapeutics, Inc. has a 12-month low of $36.20 and a 12-month high of $60.92. The company has a fifty day moving average price of $51.24 and a 200-day moving average price of $49.24. The firm has a market capitalization of $1.98 billion, a PE ratio of -13.83 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Research analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in Soleno Therapeutics by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after acquiring an additional 3,666 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Soleno Therapeutics during the 3rd quarter worth $490,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $656,000. Geode Capital Management LLC raised its holdings in Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after buying an additional 51,189 shares during the period. Finally, Barclays PLC lifted its position in Soleno Therapeutics by 149.3% in the third 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 during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.