Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO Sells $185,409.03 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Soleno Therapeutics Trading Down 3.7 %

NASDAQ:SLNO opened at $44.52 on Thursday. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $60.92. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -13.41 and a beta of -1.47. The company’s 50-day moving average is $50.62 and its two-hundred day moving average is $49.28.

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

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank purchased a new position in Soleno Therapeutics during the second quarter worth about $31,000. Victory Capital Management Inc. increased its stake in shares of 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 acquiring an additional 2,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Soleno Therapeutics during the 3rd quarter worth about $155,000. The Manufacturers Life Insurance Company boosted its position in shares of Soleno Therapeutics by 6.5% in the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after acquiring an additional 3,226 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Soleno Therapeutics by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock valued at $703,000 after purchasing an additional 3,666 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several research reports. 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a research note on Friday, September 20th. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer lifted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research 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 company. According to MarketBeat, Soleno Therapeutics has an average rating of “Buy” and an average price target of $74.83.

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.