James H. Mackaness Sells 90,622 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) CFO James H. Mackaness sold 90,622 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the sale, the chief financial officer now owns 105,176 shares in the company, valued at $7,303,421.44. The trade was a 46.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Soleno Therapeutics Stock Down 2.4 %

Shares of NASDAQ SLNO traded down $1.78 during midday trading on Thursday, hitting $71.89. The company had a trading volume of 838,138 shares, compared to its average volume of 663,679. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.71 and a beta of -2.29. Soleno Therapeutics, Inc. has a twelve month low of $36.61 and a twelve month high of $73.97. The business has a 50-day simple moving average of $50.32 and a two-hundred day simple moving average of $50.50.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings results 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 forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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Analyst Ratings Changes

SLNO has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Stifel Nicolaus upped their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. UBS Group set a $105.00 price objective on Soleno Therapeutics in a report on Thursday, March 27th. HC Wainwright upped their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the company a "buy" rating in a report on Monday. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Soleno Therapeutics has an average rating of "Buy" and a consensus target price of $99.63.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after buying an additional 1,107,166 shares in the last quarter. FMR LLC lifted 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 valued at $33,595,000 after acquiring an additional 665,363 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after acquiring an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock worth $113,499,000 after purchasing an additional 344,000 shares in the last quarter. Finally, Vestal Point Capital LP raised its stake in Soleno Therapeutics by 47.2% in the 4th quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company's stock valued at $47,647,000 after purchasing an additional 340,000 shares during the last quarter. 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.