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 on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now directly owns 27,036 shares in the company, valued at $1,895,493.96. This trade represents a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Soleno Therapeutics Price Performance

SLNO opened at $67.48 on Friday. The company has a market capitalization of $3.09 billion, a PE ratio of -20.33 and a beta of -2.29. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $74.00. The business has a 50-day moving average of $51.19 and a 200-day moving average of $50.75.

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

Institutional Investors Weigh In On Soleno Therapeutics

Large investors have recently bought and sold shares of the business. AlphaQuest LLC lifted its position in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after buying 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 bought a new stake in Soleno Therapeutics during the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC bought a new position in shares of Soleno Therapeutics in the fourth quarter valued at approximately $89,000. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLNO has been the topic of several recent analyst reports. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Laidlaw upped their price target 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. Robert W. Baird lifted their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. HC Wainwright increased their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a report on Monday, March 31st. Finally, Stifel Nicolaus lifted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 28th. Seven equities research 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.com, Soleno Therapeutics currently has an average rating of “Buy” and an average price target of $99.63.

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.