Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Sells $1,013,664.33 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang sold 14,583 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the sale, the vice president now owns 36,817 shares of the company’s stock, valued at approximately $2,559,149.67. This trade represents a 28.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Soleno Therapeutics Price Performance

SLNO opened at $73.67 on Thursday. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $73.97. The stock has a market cap of $3.38 billion, a P/E ratio of -22.19 and a beta of -2.29. The stock’s 50 day simple moving average is $50.32 and its 200 day simple moving average is $50.50.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). Research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Soleno Therapeutics during the third quarter worth approximately $262,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Soleno Therapeutics by 208.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock worth $9,724,000 after purchasing an additional 130,080 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 valued at $2,657,000 after purchasing an additional 3,226 shares during the period. FMR LLC increased its stake in Soleno Therapeutics by 6,048,754.5% in the third 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 during the last quarter. Finally, MetLife Investment Management LLC lifted its position in 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 buying an additional 7,196 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SLNO. Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Robert W. Baird increased 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. HC Wainwright boosted their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 28th. Finally, Guggenheim reissued a “buy” rating and issued a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics presently has an average rating of “Buy” and a consensus price target 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.