Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 2,340 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Soleno Therapeutics Trading Up 0.7 %

Shares of SLNO stock opened at $46.22 on Wednesday. The company’s fifty day moving average price is $51.05 and its 200-day moving average price is $49.28. The stock has a market cap of $1.99 billion, a PE ratio of -13.92 and a beta of -1.47. Soleno Therapeutics, Inc. has a 12 month low of $36.20 and a 12 month high of $60.92.

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, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in SLNO. FMR LLC raised its holdings in Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after acquiring an additional 665,363 shares during the last quarter. Barclays PLC lifted its position in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after purchasing an additional 31,467 shares during the last quarter. Sofinnova Investments Inc. grew its position in Soleno Therapeutics by 267.7% in the second quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after acquiring an additional 403,584 shares in the last quarter. Samlyn Capital LLC increased its position in shares of Soleno Therapeutics by 128.9% during the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock valued at $20,443,000 after purchasing an additional 282,122 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in Soleno Therapeutics by 174.0% in the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock worth $2,347,000 after buying an additional 36,534 shares during the last quarter. 97.42% of the stock is owned by institutional investors.

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.