Kristen Yen Sells 5,270 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 5,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $250,746.60. Following the completion of the sale, the insider now owns 90,008 shares in the company, valued at approximately $4,282,580.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kristen Yen also recently made the following trade(s):

• On Monday, August 5th, Kristen Yen sold 5,017 shares of Soleno Therapeutics stock. The stock was sold at an average price of $45.77, for a total value of $229,628.09.
• On Monday, July 1st, Kristen Yen sold 2,170 shares of Soleno Therapeutics stock. The shares were sold at an average price of $41.54, for a total value of $90,141.80.

Soleno Therapeutics Stock Up 5.1 %

Shares of SLNO stock opened at $48.95 on Friday. The stock has a 50-day simple moving average of $46.13 and a 200 day simple moving average of $44.54. The stock has a market capitalization of $1.64 billion, a P/E ratio of -18.26 and a beta of -1.39. Soleno Therapeutics, Inc. has a fifty-two week low of $3.69 and a fifty-two week high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data 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. On average, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current year.

Institutional Trading of Soleno Therapeutics

Large investors have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in Soleno Therapeutics in the second quarter worth approximately $31,000. Victory Capital Management Inc. grew its holdings in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after acquiring an additional 2,236 shares during the last quarter. Sei Investments Co. raised its position in shares of Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after purchasing an additional 3,481 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Soleno Therapeutics by 32.0% in the 1st quarter. Swiss National Bank now owns 30,100 shares of the company’s stock valued at $1,288,000 after purchasing an additional 7,300 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLNO. Baird R W raised Soleno Therapeutics to a “strong-buy” rating in a research note on Friday, May 10th. Oppenheimer increased their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Finally, Robert W. Baird initiated coverage on shares of Soleno Therapeutics in a research note on Friday, May 10th. They issued an “outperform” rating and a $72.00 price target for the company. Six equities research 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 company has an average rating of “Buy” and a consensus target price of $66.67.

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.