Soleno Therapeutics, Inc. (NASDAQ:SLNO) Director Sells $424,792.35 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) Director Matthew Pauls sold 5,937 shares of Soleno Therapeutics stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $465,075. The trade was a 47.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Soleno Therapeutics Price Performance

SLNO traded down $1.78 during trading on Thursday, reaching $71.89. 838,138 shares of the stock traded hands, compared to its average volume of 663,679. The stock'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 fifty-two week low of $36.61 and a fifty-two week high of $73.97. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -21.71 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). Research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

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Institutional Trading of Soleno Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC increased its stake in shares of Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the 4th quarter valued at $34,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics in the fourth quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics during the fourth quarter valued at about $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLNO has been the subject of several recent analyst reports. Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Robert W. Baird raised their price objective 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. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. HC Wainwright raised their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Guggenheim reissued a "buy" rating and set a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $99.63.

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.