Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Director Sells $424,792.35 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) Director Matthew Pauls sold 5,937 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at $465,075. The trade was a 47.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Soleno Therapeutics Trading Down 0.8 %

NASDAQ SLNO opened at $71.45 on Tuesday. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $73.97. The company has a 50 day moving average of $49.44 and a 200-day moving average of $50.23. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AlphaQuest LLC grew its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics during the fourth quarter valued at approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at 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.

Wall Street Analyst Weigh In

SLNO has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird upped their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Laidlaw raised their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. HC Wainwright upped their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Finally, Guggenheim restated a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $98.86.

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.