James H. Mackaness Sells 90,622 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 90,622 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total value of $6,292,791.68. Following the transaction, the chief financial officer now directly owns 105,176 shares of the company’s stock, valued at $7,303,421.44. This represents a 46.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Soleno Therapeutics Trading Down 4.5 %

Shares of SLNO opened at $68.26 on Wednesday. The company has a market cap of $3.13 billion, a price-to-earnings ratio of -20.56 and a beta of -1.70. The business’s fifty day simple moving average is $49.82 and its two-hundred day simple moving average is $50.34. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month 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.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLNO. Intech Investment Management LLC bought a new stake in Soleno Therapeutics in the 3rd quarter worth approximately $262,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Soleno Therapeutics by 208.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock worth $9,724,000 after buying an additional 130,080 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 period. FMR LLC increased its position in Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after acquiring an additional 665,363 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Soleno Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,772 shares of the company’s stock valued at $645,000 after acquiring an additional 7,196 shares during the period. 97.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLNO has been the subject of several research reports. Robert W. Baird increased their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Laidlaw raised their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Stifel Nicolaus boosted their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $98.86.

About Soleno Therapeutics

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.