Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $90,141.80 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,170 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the sale, the insider now directly owns 21,252 shares in the company, valued at $882,808.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Soleno Therapeutics Trading Up 5.8 %

SLNO traded up $2.30 on Wednesday, reaching $42.03. The company had a trading volume of 207,966 shares, compared to its average volume of 409,700. The company has a fifty day moving average of $43.29 and a 200-day moving average of $43.32. The company has a market capitalization of $1.40 billion, a P/E ratio of -15.68 and a beta of -1.39. Soleno Therapeutics, Inc. has a one year low of $3.69 and a one year high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). Research analysts predict that Soleno Therapeutics, Inc. will post -2.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLNO. Oppenheimer cut their target price on Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Robert W. Baird assumed coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They issued an “outperform” rating and a $72.00 price objective on the stock. Finally, Baird R W upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $60.33.

Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its holdings in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after acquiring an additional 3,481 shares in the last quarter. Swiss National Bank boosted its stake in Soleno Therapeutics by 32.0% in the 1st quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after purchasing an additional 7,300 shares during the period. Cannon Global Investment Management LLC purchased a new position in Soleno Therapeutics during the 1st quarter worth approximately $505,000. Finally, Aspiriant LLC acquired a new stake in Soleno Therapeutics during the 4th quarter valued at $488,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.