Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the transaction, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Soleno Therapeutics Stock Performance
Shares of SLNO traded down $4.68 during mid-day trading on Friday, reaching $67.48. The stock had a trading volume of 1,270,316 shares, compared to its average volume of 670,666. The business has a fifty day moving average of $51.19 and a 200 day moving average of $50.75. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -20.33 and a beta of -2.29. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $74.00.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its earnings results 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, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Laidlaw upped 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 raised shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. Cantor Fitzgerald boosted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $99.63.
Check Out Our Latest Stock Analysis on SLNO
Hedge Funds Weigh In On Soleno Therapeutics
A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after purchasing an additional 1,107,166 shares during the period. Nantahala Capital Management LLC grew its holdings in Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after buying an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after buying an additional 344,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Soleno Therapeutics by 19.2% in the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock worth $84,710,000 after buying an additional 303,806 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Soleno Therapeutics by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after acquiring an additional 321,223 shares during the last quarter. Institutional investors own 97.42% of the company's stock.
Soleno Therapeutics Company Profile
(
Get Free Report)
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.
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