Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $185,409.03 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 4,083 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. This represents a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $46.22 on Wednesday. The stock has a 50-day simple moving average of $51.05 and a 200 day simple moving average of $49.28. Soleno Therapeutics, Inc. has a twelve month low of $36.20 and a twelve month high of $60.92. The stock has a market capitalization of $1.99 billion, a PE ratio of -13.92 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

Several large investors have recently bought and sold shares of SLNO. Amalgamated Bank acquired a new stake in Soleno Therapeutics in the 2nd quarter worth $31,000. Victory Capital Management Inc. lifted its stake 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 valued at $438,000 after buying an additional 2,236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics during the third quarter worth about $155,000. The Manufacturers Life Insurance Company increased its stake in Soleno Therapeutics by 6.5% during the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock valued at $2,657,000 after acquiring an additional 3,226 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Soleno Therapeutics by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock valued at $703,000 after acquiring an additional 3,666 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.