Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $108,061.20 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Soleno Therapeutics Trading Down 1.2 %

Soleno Therapeutics stock traded down $0.56 during trading on Monday, reaching $45.90. The company had a trading volume of 278,526 shares, compared to its average volume of 445,542. The firm’s 50-day simple moving average is $51.24 and its 200 day simple moving average is $49.24. Soleno Therapeutics, Inc. has a 52 week low of $36.20 and a 52 week high of $60.92. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -13.83 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, analysts predict that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Large investors have recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of Soleno Therapeutics in the second quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Soleno Therapeutics in the 3rd quarter worth $155,000. Curi RMB Capital LLC bought a new position in Soleno Therapeutics in the 3rd quarter worth $202,000. Intech Investment Management LLC purchased a new stake in Soleno Therapeutics in the 3rd quarter worth $262,000. Finally, Fred Alger Management LLC bought a new stake in Soleno Therapeutics during the third quarter valued at about $310,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

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

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.