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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now 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 legal filing with the SEC, which can be accessed through the SEC website.

Soleno Therapeutics Stock Up 0.7 %

NASDAQ SLNO opened at $46.22 on Wednesday. The stock’s 50-day simple moving average is $51.05 and its two-hundred day simple moving average is $49.28. Soleno Therapeutics, Inc. has a twelve month low of $36.20 and a twelve month high of $60.92. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -13.92 and a beta of -1.47.

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

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Amalgamated Bank bought a new position in shares of Soleno Therapeutics during the 2nd quarter valued at $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Soleno Therapeutics during the third quarter valued at about $155,000. Curi RMB Capital LLC purchased a new position in shares of Soleno Therapeutics in the third quarter worth about $202,000. Intech Investment Management LLC bought a new stake in shares of Soleno Therapeutics in the 3rd quarter valued at about $262,000. Finally, Fred Alger Management LLC purchased a new stake in Soleno Therapeutics during the 3rd quarter valued at about $310,000. 97.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SLNO. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Oppenheimer raised their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $74.83.

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.