Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Sells $1,013,664.33 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) VP Michael F. Huang sold 14,583 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total value of $1,013,664.33. Following the transaction, the vice president now directly owns 36,817 shares in the company, valued at approximately $2,559,149.67. This represents a 28.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Soleno Therapeutics Stock Down 2.4 %

Soleno Therapeutics stock traded down $1.78 during mid-day trading on Thursday, hitting $71.89. 838,138 shares of the company's stock traded hands, compared to its average volume of 663,679. Soleno Therapeutics, Inc. has a one year low of $36.61 and a one year high of $73.97. The firm has a 50 day moving average price of $50.32 and a 200 day moving average price of $50.50. The company has a market cap of $3.30 billion, a PE ratio of -21.71 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data 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). On average, analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Cantor Fitzgerald increased 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. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. HC Wainwright upped their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the company a "buy" rating in a report on Monday. Guggenheim reissued a "buy" rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Finally, Laidlaw upped their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $99.63.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC raised its holdings in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the 4th quarter valued at $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at $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.

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.