Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang Sells 14,583 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) VP Michael F. Huang sold 14,583 shares of the company's stock in a transaction dated 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 completion of the transaction, the vice president now owns 36,817 shares in the company, valued at $2,559,149.67. This represents a 28.37 % 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

Soleno Therapeutics stock traded down $4.68 during trading hours on Friday, reaching $67.48. The stock had a trading volume of 1,270,316 shares, compared to its average volume of 670,666. The company has a fifty day simple moving average of $51.19 and a 200-day simple moving average of $50.75. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $74.00. The stock has a market cap of $3.09 billion, a PE ratio of -20.33 and a beta of -2.29.

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). Research analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

A number of large investors have recently made changes to their positions in SLNO. FMR LLC lifted its stake in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company's stock worth $33,595,000 after acquiring an additional 665,363 shares during the period. Barclays PLC lifted its position in shares of Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after purchasing an additional 31,467 shares during the period. Emerald Advisers LLC boosted its stake in shares of Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock valued at $26,112,000 after purchasing an additional 267,585 shares in the last quarter. State Street Corp boosted its stake in shares of Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company's stock valued at $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock valued at $9,779,000 after buying an additional 24,953 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLNO. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Cantor Fitzgerald lifted their price objective 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 target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Stifel Nicolaus increased their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, HC Wainwright upped 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. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price 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.