Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 2,340 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO opened at $44.52 on Thursday. Soleno Therapeutics, Inc. has a one year low of $36.61 and a one year high of $60.92. The business’s 50-day moving average price is $50.62 and its two-hundred day moving average price is $49.28. The company has a market capitalization of $1.92 billion, a P/E ratio of -13.41 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Soleno Therapeutics by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after purchasing an additional 3,666 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $490,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Soleno Therapeutics during the 3rd quarter valued at about $656,000. Geode Capital Management LLC raised its stake in shares of Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after acquiring an additional 51,189 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after purchasing an additional 31,467 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

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

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.