Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Patricia C. Hirano Sells 128,653 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 128,653 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the transaction, the insider now owns 55,789 shares of the company’s stock, valued at $3,811,504.48. This represents a 69.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO opened at $71.45 on Tuesday. The stock has a 50 day moving average price of $49.44 and a 200 day moving average price of $50.23. The stock has a market capitalization of $3.28 billion, a PE ratio of -21.52 and a beta of -1.70. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $73.97.

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

Wall Street Analysts Forecast Growth

SLNO has been the subject of several research analyst reports. HC Wainwright upped their price target on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird increased their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Stifel Nicolaus boosted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Laidlaw boosted their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $98.86.

Institutional Trading of Soleno Therapeutics

Large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after purchasing an additional 1,107,166 shares during the period. Nantahala Capital Management LLC increased its position in Soleno Therapeutics by 20.1% during the fourth 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 raised its stake in Soleno Therapeutics by 15.8% in the fourth 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. lifted its position in shares of Soleno Therapeutics by 19.2% in the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after buying an additional 303,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake 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. Institutional investors and hedge funds 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.