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 Soleno Therapeutics stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total value of $1,013,664.33. Following the transaction, the vice president now owns 36,817 shares in the company, valued at approximately $2,559,149.67. This represents a 28.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $68.26 on Wednesday. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $73.97. The company has a 50 day moving average price of $49.82 and a 200 day moving average price of $50.34. The stock has a market capitalization of $3.13 billion, a P/E ratio of -20.56 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data 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, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SLNO shares. Stifel Nicolaus lifted their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Cantor Fitzgerald upped 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. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. HC Wainwright upped their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Finally, Robert W. Baird raised their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $98.86.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently bought and sold shares of the stock. Intech Investment Management LLC purchased a new position in shares of Soleno Therapeutics in the 3rd quarter valued at about $262,000. Charles Schwab Investment Management Inc. lifted its stake in Soleno Therapeutics by 208.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock worth $9,724,000 after acquiring an additional 130,080 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Soleno Therapeutics by 6.5% in the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after acquiring an additional 3,226 shares during the last quarter. FMR LLC raised its holdings in shares of Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Soleno Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 12,772 shares of the company’s stock worth $645,000 after purchasing an additional 7,196 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.