Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells 2,340 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $45.90 on Tuesday. The company has a market cap of $1.98 billion, a P/E ratio of -13.83 and a beta of -1.47. Soleno Therapeutics, Inc. has a one year low of $36.20 and a one year high of $60.92. The firm has a fifty day moving average of $51.24 and a two-hundred day moving average of $49.24.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, equities analysts predict that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on SLNO. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. 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. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Oppenheimer upped their price objective 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. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $74.83.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Soleno Therapeutics by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after purchasing an additional 3,666 shares during the period. Virtu Financial LLC acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth $490,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth $656,000. Geode Capital Management LLC grew its stake in shares of Soleno Therapeutics by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after purchasing an additional 51,189 shares during the period. Finally, Barclays PLC grew its stake in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after purchasing an additional 31,467 shares during the period. 97.42% of the stock is owned by institutional investors and hedge funds.

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.