James H. Mackaness Sells 4,083 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Soleno Therapeutics Price Performance

Shares of SLNO stock opened at $44.52 on Thursday. The company’s fifty day moving average price is $50.62 and its two-hundred day moving average price is $49.28. The firm has a market capitalization of $1.92 billion, a P/E ratio of -13.41 and a beta of -1.47. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors have recently made changes to their positions in SLNO. JPMorgan Chase & Co. grew its position in shares of Soleno Therapeutics by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after buying an additional 3,666 shares in the last quarter. Virtu Financial LLC bought a new position in Soleno Therapeutics during the 3rd quarter valued at $490,000. Teachers Retirement System of The State of Kentucky acquired a new position in Soleno Therapeutics during the 3rd quarter worth $656,000. Geode Capital Management LLC increased its position in shares of Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after purchasing an additional 51,189 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Soleno Therapeutics by 149.3% in the 3rd 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 in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.