Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $153,628.44 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, August 28th, Kristen Yen sold 5,270 shares of Soleno Therapeutics stock. The stock was sold at an average price of $47.58, for a total value of $250,746.60.
• 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.

Soleno Therapeutics Trading Down 1.5 %

Shares of NASDAQ:SLNO traded down $0.73 during trading on Thursday, reaching $48.95. The company’s stock had a trading volume of 248,573 shares, compared to its average volume of 428,487. The firm’s 50 day simple moving average is $48.81 and its two-hundred day simple moving average is $45.01. Soleno Therapeutics, Inc. has a 12 month low of $21.30 and a 12 month high of $55.56. The stock has a market capitalization of $1.64 billion, a PE ratio of -18.26 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. Research analysts anticipate that Soleno Therapeutics, Inc. will post -2.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLNO. Amalgamated Bank purchased a new stake in shares of Soleno Therapeutics in the second quarter valued at $31,000. Victory Capital Management Inc. grew its holdings in Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after purchasing an additional 2,236 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in Soleno Therapeutics in the 1st quarter worth about $505,000. Sei Investments Co. lifted its stake in Soleno Therapeutics by 22.0% in 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 last quarter. Finally, SG Americas Securities LLC bought a new stake in Soleno Therapeutics in the second quarter worth about $569,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SLNO shares. Oppenheimer increased their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. HC Wainwright started coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics presently has an average rating of “Buy” and a consensus target price 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.