Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $399,246.11 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the transaction, the chief financial officer now owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Soleno Therapeutics Stock Up 1.4 %

Shares of SLNO opened at $49.63 on Friday. The company has a 50-day simple moving average of $48.87 and a 200-day simple moving average of $45.09. The company has a market capitalization of $1.66 billion, a PE ratio of -18.52 and a beta of -1.45. Soleno Therapeutics, Inc. has a 52-week low of $21.30 and a 52-week high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. On average, research analysts anticipate that Soleno Therapeutics, Inc. will post -2.28 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on SLNO shares. Oppenheimer upped their price objective on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. HC Wainwright started coverage on shares of Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $68.71.

Institutional Investors Weigh In On Soleno Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Carlyle Group Inc. grew its stake in Soleno Therapeutics by 42.5% in the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after acquiring an additional 1,213,758 shares during the last quarter. Perceptive Advisors LLC grew its stake in Soleno Therapeutics by 4.2% in the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock valued at $130,763,000 after acquiring an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC grew its stake in Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after acquiring an additional 671,728 shares during the last quarter. Janus Henderson Group PLC grew its stake in Soleno Therapeutics by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after acquiring an additional 346,914 shares during the last quarter. Finally, Avoro Capital Advisors LLC grew its stake in Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after acquiring an additional 466,666 shares during the last quarter. 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.