Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness Sells 90,622 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 90,622 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now directly owns 105,176 shares of the company’s stock, valued at approximately $7,303,421.44. This represents a 46.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Soleno Therapeutics Stock Down 0.8 %

SLNO traded down $0.54 during trading on Monday, hitting $71.45. The company’s stock had a trading volume of 4,004,984 shares, compared to its average volume of 649,585. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $73.97. The firm’s 50 day moving average price is $49.44 and its two-hundred day moving average price is $50.23.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new position in Soleno Therapeutics during the 3rd quarter worth approximately $262,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Soleno Therapeutics by 208.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock worth $9,724,000 after buying an additional 130,080 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Soleno Therapeutics by 6.5% during 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 period. FMR LLC lifted its position in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after acquiring an additional 665,363 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Soleno Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 12,772 shares of the company’s stock valued at $645,000 after acquiring an additional 7,196 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLNO. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright boosted their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird raised their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $98.86.

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.