Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $6,292,791.68 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 90,622 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the sale, the chief financial officer now directly owns 105,176 shares in the company, valued at approximately $7,303,421.44. This represents a 46.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Soleno Therapeutics Trading Up 7.9 %

Soleno Therapeutics stock opened at $73.67 on Thursday. The stock has a 50-day moving average price of $50.32 and a 200 day moving average price of $50.50. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $73.97. The stock has a market cap of $3.38 billion, a PE ratio of -22.19 and a beta of -2.29.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in shares of Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after purchasing an additional 1,107,166 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after buying an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after buying an additional 344,000 shares during the period. Vanguard Group Inc. increased its stake in shares of Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after acquiring an additional 303,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Soleno Therapeutics by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after acquiring an additional 321,223 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Laidlaw lifted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Guggenheim reissued a “buy” rating and issued a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Stifel Nicolaus lifted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, HC Wainwright increased their price objective on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of “Buy” and a consensus price target 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.