Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $298,672.60 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 7,190 shares of Soleno Therapeutics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $298,672.60. Following the transaction, the chief financial officer now owns 55,763 shares of the company’s stock, valued at $2,316,395.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Soleno Therapeutics Price Performance

Shares of SLNO traded up $2.30 during trading hours on Wednesday, hitting $42.03. The company’s stock had a trading volume of 207,966 shares, compared to its average volume of 409,700. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -15.68 and a beta of -1.39. The business has a 50 day simple moving average of $43.29 and a two-hundred day simple moving average of $43.32. Soleno Therapeutics, Inc. has a 52-week low of $3.69 and a 52-week high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.29). Research analysts predict that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds have recently bought and sold shares of the company. Cannon Global Investment Management LLC purchased a new position in Soleno Therapeutics during the first quarter valued at approximately $505,000. Aspiriant LLC purchased a new position in Soleno Therapeutics during the fourth quarter valued at approximately $488,000. Sei Investments Co. grew its stake in Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after buying an additional 2,264 shares in the last quarter. California State Teachers Retirement System grew its stake in Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after buying an additional 3,481 shares in the last quarter. Finally, Swiss National Bank purchased a new position in Soleno Therapeutics in the 4th quarter worth approximately $918,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SLNO. Oppenheimer reduced their price objective on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Baird R W raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Finally, Robert W. Baird began coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $72.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $60.33.

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.