Soleno Therapeutics (NASDAQ:SLNO) Shares Up 4.1%

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report)'s share price traded up 4.1% on Friday . The stock traded as high as $48.50 and last traded at $48.45. 156,544 shares were traded during mid-day trading, a decline of 63% from the average session volume of 421,578 shares. The stock had previously closed at $46.56.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SLNO shares. Cantor Fitzgerald restated an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Baird R W upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Friday, May 10th. Robert W. Baird assumed coverage on shares of Soleno Therapeutics in a report on Friday, May 10th. They issued an "outperform" rating and a $72.00 target price on the stock. Finally, Oppenheimer increased their price target on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, August 12th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $66.67.

Soleno Therapeutics Trading Up 5.1 %

The company has a market capitalization of $1.64 billion, a PE ratio of -18.26 and a beta of -1.39. The firm has a 50 day simple moving average of $46.13 and a two-hundred day simple moving average of $44.55.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts' consensus estimates of ($0.63) by $0.06. Research analysts expect that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of the business's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $298,672.60. Following the transaction, the chief financial officer now owns 55,763 shares in the company, valued at approximately $2,316,395.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of the business's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $298,672.60. Following the sale, the chief financial officer now directly owns 55,763 shares in the company, valued at approximately $2,316,395.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the transaction, the insider now owns 6,816,851 shares in the company, valued at $332,185,149.23. The disclosure for this sale can be found here. Insiders have sold a total of 767,239 shares of company stock worth $36,744,548 over the last ninety days. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank acquired a new stake in shares of Soleno Therapeutics during the fourth quarter valued at $918,000. Wellington Management Group LLP acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth about $8,557,000. Vivo Capital LLC grew its holdings in shares of Soleno Therapeutics by 162.8% during the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company's stock worth $338,828,000 after buying an additional 5,215,000 shares in the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Soleno Therapeutics in the fourth quarter valued at approximately $2,088,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Soleno Therapeutics during the first quarter valued at approximately $4,444,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

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.