Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 128,653 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the transaction, the insider now directly owns 55,789 shares in the company, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Soleno Therapeutics Price Performance

SLNO traded down $0.54 on Monday, hitting $71.45. The company had a trading volume of 4,004,984 shares, compared to its average volume of 649,585. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70. The company’s fifty day moving average price is $48.94 and its 200 day moving average price is $50.08. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird upped their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald lifted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Finally, Laidlaw lifted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $98.86.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Soleno Therapeutics by 14.5% during the 4th quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock valued at $35,163,000 after purchasing an additional 99,095 shares during the period. California State Teachers Retirement System increased its position in Soleno Therapeutics by 23.6% in the 4th quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock worth $988,000 after buying an additional 4,201 shares during the period. Polar Asset Management Partners Inc. lifted its holdings in shares of Soleno Therapeutics by 296.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock worth $5,637,000 after buying an additional 93,800 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock valued at $1,236,000 after acquiring an additional 5,462 shares during the period. 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.