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 business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $399,246.11. Following the sale, the chief financial officer now owns 119,172 shares of the company’s stock, valued at $5,890,671.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Soleno Therapeutics Price Performance

Shares of SLNO stock traded down $0.73 during trading hours on Thursday, reaching $48.95. 248,573 shares of the company traded hands, compared to its average volume of 428,487. The firm has a 50-day moving average price of $48.81 and a 200 day moving average price of $45.01. The company has a market cap of $1.64 billion, a P/E ratio of -18.26 and a beta of -1.46. Soleno Therapeutics, Inc. has a 12-month low of $21.30 and a 12-month high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.06. Sell-side analysts predict that Soleno Therapeutics, Inc. will post -2.28 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SLNO. Carlyle Group Inc. raised its holdings in Soleno Therapeutics by 42.5% during the first 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 period. Perceptive Advisors LLC boosted its stake in shares of Soleno Therapeutics by 4.2% in the second quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after acquiring an additional 130,434 shares during the period. Nantahala Capital Management LLC grew its position in shares of Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after purchasing an additional 671,728 shares in the last quarter. Janus Henderson Group PLC raised its stake in Soleno Therapeutics by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after purchasing an additional 346,914 shares during the period. Finally, Avoro Capital Advisors LLC lifted its holdings 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 worth $85,340,000 after purchasing an additional 466,666 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Oppenheimer upped their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their price target on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday, September 20th. Finally, HC Wainwright began coverage on shares of Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and a consensus price target of $68.71.

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.