Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 128,653 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 128,653 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the transaction, the insider now directly owns 55,789 shares of the company’s stock, valued at $3,811,504.48. The trade was a 69.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Soleno Therapeutics Price Performance

SLNO opened at $68.26 on Wednesday. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $73.97. The stock’s 50 day simple moving average is $49.82 and its 200 day simple moving average is $50.34. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -20.56 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC increased its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $89,000. 97.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLNO has been the subject of several research analyst reports. Cantor Fitzgerald lifted their target price 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. HC Wainwright increased their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Guggenheim reaffirmed a “buy” rating and set a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Stifel Nicolaus upped their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $98.86.

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.