Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $47.18 and traded as high as $52.46. Soleno Therapeutics shares last traded at $49.17, with a volume of 525,708 shares.
Wall Street Analysts Forecast Growth
SLNO has been the subject of several research reports. Robert W. Baird reiterated an "outperform" rating and set a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright reiterated a "buy" rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Oppenheimer lifted their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Finally, Stifel Nicolaus reiterated a "buy" rating and set a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $71.20.
Get Our Latest Stock Report on SLNO
Soleno Therapeutics Stock Performance
The stock has a 50 day moving average of $47.24 and a two-hundred day moving average of $49.94. The firm has a market capitalization of $1.99 billion, a P/E ratio of -13.89 and a beta of -1.46.
Insider Activity at Soleno Therapeutics
In related news, CEO Bhatnagar Anish sold 10,937 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares of the company's stock, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James H. Mackaness sold 4,083 shares of the firm'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 directly owns 115,089 shares in the company, valued at $5,226,191.49. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,360 shares of company stock valued at $790,119. Corporate insiders own 12.30% of the company's stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. AlphaQuest LLC increased its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares during the period. US Bancorp DE bought a new position in Soleno Therapeutics in the 4th quarter worth approximately $34,000. Avanza Fonder AB bought a new position in Soleno Therapeutics in the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in Soleno Therapeutics in the 4th quarter worth approximately $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics in the 4th quarter worth approximately $89,000. 97.42% of the stock is owned by institutional investors.
About Soleno Therapeutics
(
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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.
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