Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Kristen Yen Sells 3,108 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $153,628.44. Following the sale, the insider now owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Kristen Yen also recently made the following trade(s):

• On Wednesday, August 28th, Kristen Yen sold 5,270 shares of Soleno Therapeutics stock. The shares were sold at an average price of $47.58, for a total transaction of $250,746.60.
• On Monday, August 5th, Kristen Yen sold 5,017 shares of Soleno Therapeutics stock. The shares were sold at an average price of $45.77, for a total value of $229,628.09.

Soleno Therapeutics Stock Up 1.4 %

Shares of NASDAQ:SLNO opened at $49.63 on Friday. The company has a market cap of $1.66 billion, a PE ratio of -18.52 and a beta of -1.45. Soleno Therapeutics, Inc. has a fifty-two week low of $21.30 and a fifty-two week high of $55.56. The firm has a 50-day simple moving average of $48.87 and a 200 day simple moving average of $45.08.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.06. As a group, research analysts forecast that Soleno Therapeutics, Inc. will post -2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP acquired a new position in shares of Soleno Therapeutics during the fourth quarter valued at $52,325,000. Carlyle Group Inc. boosted its stake in Soleno Therapeutics by 42.5% during the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after purchasing an additional 1,213,758 shares during the period. Avoro Capital Advisors LLC grew its position in Soleno Therapeutics by 107.0% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock worth $69,550,000 after purchasing an additional 840,000 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Soleno Therapeutics in the second quarter valued at approximately $29,778,000. Finally, Nantahala Capital Management LLC raised its holdings in shares of Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after buying an additional 671,728 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Oppenheimer upped their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Stifel Nicolaus lifted their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, HC Wainwright started coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $68.71.

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.