Soleno Therapeutics (NASDAQ:SLNO) Share Price Crosses Above Fifty Day Moving Average – Should You Sell?

Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $47.18 and traded as high as $52.46. Soleno Therapeutics shares last traded at $49.17, with a volume of 525,708 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Oppenheimer raised their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $71.20.

Soleno Therapeutics Trading Down 1.2 %

The stock’s 50 day moving average price is $47.22 and its 200 day moving average price is $49.95. The firm has a market cap of $2.05 billion, a PE ratio of -14.30 and a beta of -1.46.

Insider Transactions at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at $5,226,191.49. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. FMR LLC increased its holdings in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares during the last quarter. Barclays PLC raised its holdings in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares in the last quarter. State Street Corp lifted its position in shares of Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after buying an additional 142,033 shares during the last quarter. Holocene Advisors LP increased its holdings in shares of Soleno Therapeutics by 10.8% during the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock valued at $30,009,000 after acquiring an additional 57,913 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after acquiring an additional 51,189 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.