Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $108,061.20 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Soleno Therapeutics Trading Down 1.2 %

Soleno Therapeutics stock traded down $0.56 during mid-day trading on Monday, hitting $45.90. The company had a trading volume of 278,526 shares, compared to its average volume of 445,542. Soleno Therapeutics, Inc. has a 12 month low of $36.20 and a 12 month high of $60.92. The stock’s 50 day moving average price is $51.24 and its two-hundred day moving average price is $49.24. The company has a market capitalization of $1.98 billion, a PE ratio of -13.83 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank purchased a new position in Soleno Therapeutics in the 2nd quarter worth approximately $31,000. Victory Capital Management Inc. increased its holdings in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Soleno Therapeutics in the 3rd quarter worth $155,000. The Manufacturers Life Insurance Company raised its stake 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 purchasing an additional 3,226 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Soleno Therapeutics by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock valued at $703,000 after purchasing an additional 3,666 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLNO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Oppenheimer increased their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Robert W. Baird reissued an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $74.83.

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.