Michael F. Huang Sells 14,583 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang sold 14,583 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the transaction, the vice president now owns 36,817 shares of the company’s stock, valued at approximately $2,559,149.67. The trade was a 28.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $68.26 on Wednesday. Soleno Therapeutics, Inc. has a one year low of $36.61 and a one year high of $73.97. The company has a market cap of $3.13 billion, a P/E ratio of -20.56 and a beta of -1.70. The firm has a fifty day moving average of $49.82 and a two-hundred day moving average of $50.34.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLNO. Stifel Nicolaus raised 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. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald increased their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. HC Wainwright lifted their target price on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Finally, Robert W. Baird increased their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $98.86.

Institutional Trading of Soleno Therapeutics

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

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.