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

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

Soleno Therapeutics Price Performance

SLNO stock opened at $71.45 on Tuesday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70. The business has a fifty day moving average price of $49.44 and a 200 day moving average price of $50.23. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data 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). On average, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLNO has been the subject of a number of recent research reports. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. HC Wainwright increased their price target on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus lifted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Laidlaw increased their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics currently has an average rating of “Buy” and an average target price of $98.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Corebridge Financial Inc. lifted its position in Soleno Therapeutics by 2.9% during the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock valued at $572,000 after purchasing an additional 357 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after buying an additional 522 shares during the period. AlphaQuest LLC boosted its stake in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE acquired a new stake in Soleno Therapeutics during the 4th quarter worth $34,000. Finally, Alliancebernstein L.P. raised its position in shares of Soleno Therapeutics by 3.5% during the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock valued at $1,070,000 after acquiring an additional 800 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.