Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang Sells 14,583 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang sold 14,583 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the sale, the vice president now owns 36,817 shares of the company’s stock, valued at $2,559,149.67. The trade was a 28.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Soleno Therapeutics Stock Down 0.8 %

Shares of Soleno Therapeutics stock opened at $71.45 on Tuesday. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $73.97. The firm’s 50 day moving average price is $49.44 and its 200-day moving average price is $50.23. The company has a market cap of $3.28 billion, a P/E ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly 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). As a group, equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC grew its stake in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE acquired a new stake in Soleno Therapeutics in the 4th quarter worth approximately $34,000. Avanza Fonder AB purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the 4th quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $89,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Guggenheim reaffirmed 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. Cantor Fitzgerald upped their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. HC Wainwright raised their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Laidlaw raised their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $98.86.

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.