Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $313,478.73 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 6,849 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $313,478.73. Following the completion of the sale, the chief financial officer now directly owns 148,914 shares in the company, valued at approximately $6,815,793.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Soleno Therapeutics Stock Performance

Shares of SLNO opened at $45.91 on Friday. Soleno Therapeutics, Inc. has a fifty-two week low of $3.69 and a fifty-two week high of $53.82. The company has a market capitalization of $1.53 billion, a PE ratio of -17.13 and a beta of -1.39. The stock has a fifty day moving average of $44.53 and a two-hundred day moving average of $44.41.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. As a group, equities research analysts forecast that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Baird R W upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Oppenheimer reduced their price target on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Finally, Robert W. Baird started coverage on Soleno Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $72.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $65.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after acquiring an additional 2,236 shares during the last quarter. Aspiriant LLC acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth $488,000. Cannon Global Investment Management LLC purchased a new position in shares of Soleno Therapeutics in the 1st quarter worth $505,000. Sei Investments Co. boosted its holdings in Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after acquiring an additional 2,264 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Soleno Therapeutics during the second quarter valued at about $569,000. 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.