James H. Mackaness Sells 4,083 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 4,083 shares of the company’s 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 sale, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. This represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Soleno Therapeutics Trading Down 1.2 %

SLNO stock opened at $45.90 on Tuesday. The business’s 50-day moving average is $51.24 and its 200 day moving average is $49.24. Soleno Therapeutics, Inc. has a 12-month low of $36.20 and a 12-month high of $60.92. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -13.83 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 the consensus estimate of ($0.61) by ($1.22). As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Soleno Therapeutics

A number of large investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in shares of Soleno Therapeutics by 21.5% in the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after buying an additional 722,226 shares in the last quarter. Perceptive Advisors LLC raised its holdings in Soleno Therapeutics by 4.2% in the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock valued at $130,763,000 after acquiring an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC lifted its stake in Soleno Therapeutics by 27.9% in the 2nd 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. Avoro Capital Advisors LLC lifted its stake 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. Finally, State Street Corp boosted its holdings in shares of Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.