Patricia C. Hirano Sells 3,782 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the transaction, the insider now owns 27,036 shares in the company, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Soleno Therapeutics Stock Up 7.9 %

SLNO stock traded up $5.41 during trading on Wednesday, reaching $73.67. The company's stock had a trading volume of 1,961,632 shares, compared to its average volume of 661,051. The company has a market capitalization of $3.38 billion, a P/E ratio of -22.19 and a beta of -2.29. The company's fifty day moving average is $49.82 and its 200-day moving average is $50.34. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year 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). Analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLNO. Guggenheim reiterated 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, March 28th. Laidlaw lifted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Cantor Fitzgerald upped their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird boosted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Soleno Therapeutics currently has a consensus rating of "Buy" and an average target price of $98.86.

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Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company's stock worth $33,595,000 after acquiring an additional 665,363 shares during the period. Barclays PLC boosted its stake in Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after purchasing an additional 31,467 shares during the last quarter. Emerald Advisers LLC raised its holdings in Soleno Therapeutics by 85.4% in the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock valued at $26,112,000 after acquiring an additional 267,585 shares during the last quarter. State Street Corp lifted its position in Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company's stock worth $57,668,000 after buying an additional 142,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Soleno Therapeutics by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock worth $9,779,000 after acquiring an additional 24,953 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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