Kristen Yen Sells 2,170 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the sale, the insider now directly owns 21,252 shares of the company’s stock, valued at approximately $882,808.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Soleno Therapeutics Stock Up 5.8 %

Shares of NASDAQ SLNO opened at $42.03 on Friday. The company’s fifty day moving average is $43.44 and its 200-day moving average is $43.30. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -15.68 and a beta of -1.40. Soleno Therapeutics, Inc. has a twelve month low of $3.69 and a twelve month 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 analysts’ consensus estimates of ($0.30) by ($0.29). On average, research analysts anticipate that Soleno Therapeutics, Inc. will post -2.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings 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 acquiring an additional 2,264 shares during the period. California State Teachers Retirement System raised 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 worth $590,000 after acquiring an additional 3,481 shares during the period. Swiss National Bank raised its holdings in shares of Soleno Therapeutics by 32.0% during the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after acquiring an additional 7,300 shares during the period. Cannon Global Investment Management LLC acquired a new stake in shares of Soleno Therapeutics during the first quarter worth $505,000. Finally, Aspiriant LLC acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth $488,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several recent analyst reports. Oppenheimer dropped 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 report on Friday, May 10th. Finally, Robert W. Baird initiated coverage on shares of Soleno Therapeutics in a report on Friday, May 10th. They set an “outperform” rating and a $72.00 price objective 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $60.33.

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.