Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $6,292,791.68 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) CFO James H. Mackaness sold 90,622 shares of Soleno Therapeutics stock in a transaction 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 transaction, the chief financial officer now directly owns 105,176 shares of the company's stock, valued at $7,303,421.44. This represents a 46.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO traded down $4.68 during mid-day trading on Friday, reaching $67.48. 1,270,316 shares of the company's stock traded hands, compared to its average volume of 670,666. The business has a 50-day simple moving average of $51.19 and a 200 day simple moving average of $50.75. The stock has a market cap of $3.09 billion, a P/E ratio of -20.33 and a beta of -2.29. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly 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). Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SLNO. Cantor Fitzgerald raised their target price on 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 lifted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Robert W. Baird increased their target price 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. Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $99.63.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AlphaQuest LLC lifted its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $34,000. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics during the fourth quarter worth about $81,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics in the 4th quarter worth about $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.