Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 128,653 Shares of Stock

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 stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares of the company's stock, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Soleno Therapeutics Trading Down 0.2 %

SLNO traded down $0.13 during trading on Thursday, hitting $73.54. 474,309 shares of the company's stock traded hands, compared to its average volume of 662,495. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of -22.15 and a beta of -2.29. The company's 50 day simple moving average is $50.32 and its two-hundred day simple moving average is $50.50. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) EPS 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 EPS for the current year.

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Analyst Upgrades and Downgrades

SLNO has been the topic of a number of research reports. Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a 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. Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Robert W. Baird lifted their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Finally, HC Wainwright raised their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the company a "buy" rating in a research report on Monday. Seven investment 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, Soleno Therapeutics has a consensus rating of "Buy" and an average target price of $99.63.

Institutional Trading of Soleno Therapeutics

A number of institutional investors have recently made changes to their positions in SLNO. AlphaQuest LLC raised its holdings in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE bought 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 valued at $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the 4th quarter worth $89,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

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.