James H. Mackaness Sells 6,661 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 6,661 shares of Soleno Therapeutics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total transaction of $316,930.38. Following the transaction, the chief financial officer now directly owns 134,119 shares in the company, valued at approximately $6,381,382.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Soleno Therapeutics Price Performance

SLNO stock opened at $48.95 on Friday. The business has a 50-day moving average of $46.13 and a 200-day moving average of $44.54. Soleno Therapeutics, Inc. has a fifty-two week low of $3.69 and a fifty-two week high of $53.82. 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 (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.06. Equities analysts expect that Soleno Therapeutics, Inc. will post -2.36 EPS for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Large investors have recently modified their holdings of the business. Swiss National Bank bought a new stake in Soleno Therapeutics during the fourth quarter worth about $918,000. Wellington Management Group LLP bought a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $8,557,000. Vivo Capital LLC boosted its holdings in shares of Soleno Therapeutics by 162.8% in the 4th quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after buying an additional 5,215,000 shares during the last quarter. Rafferty Asset Management LLC bought a new position in shares of Soleno Therapeutics in the fourth quarter valued at $2,088,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Soleno Therapeutics during the first quarter worth $4,444,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Robert W. Baird assumed coverage on Soleno Therapeutics in a research note on Friday, May 10th. They issued an “outperform” rating and a $72.00 target price for the company. Finally, Baird R W raised Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.