Soleno Therapeutics (NASDAQ:SLNO) Trading Down 2.5% - Time to Sell?

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) fell 2.5% during trading on Monday . The company traded as low as $45.28 and last traded at $45.28. 6,739 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 352,929 shares. The stock had previously closed at $46.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SLNO shares. Stifel Nicolaus reiterated a "buy" rating and set a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Robert W. Baird reissued an "outperform" rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. HC Wainwright restated a "buy" rating and set a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Oppenheimer upped their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $74.83.

Soleno Therapeutics Stock Down 1.2 %

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -13.83 and a beta of -1.47. The stock's 50-day simple moving average is $51.24 and its 200 day simple moving average is $49.24.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Insider Transactions at Soleno Therapeutics

In related news, CFO James H. Mackaness sold 4,083 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kristen Yen sold 2,340 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the transaction, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,360 shares of company stock worth $790,119. Insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SLNO. Amalgamated Bank acquired a new stake in Soleno Therapeutics in the second quarter worth about $31,000. Victory Capital Management Inc. boosted its stake in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock valued at $438,000 after purchasing an additional 2,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth approximately $155,000. The Manufacturers Life Insurance Company raised its stake in shares of Soleno Therapeutics by 6.5% during the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company's stock worth $2,657,000 after buying an additional 3,226 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Soleno Therapeutics by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company's stock valued at $703,000 after buying an additional 3,666 shares during the period. 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.