Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Director Sells 5,937 Shares of Stock

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

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO traded down $4.68 during midday 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. Soleno Therapeutics, Inc. has a one year low of $36.61 and a one year high of $74.00. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -20.33 and a beta of -2.29. The stock has a 50 day moving average of $51.19 and a 200 day moving average of $50.75.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLNO. Stifel Nicolaus lifted their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a report on Friday, March 28th. Guggenheim reissued a "buy" rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. HC Wainwright increased their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday. Robert W. Baird lifted their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Finally, Cantor Fitzgerald increased their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. 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.com, Soleno Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $99.63.

Institutional Investors Weigh In On Soleno Therapeutics

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