James H. Mackaness Sells 90,622 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 90,622 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now owns 105,176 shares of the company’s stock, valued at approximately $7,303,421.44. This represents a 46.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $71.45 on Tuesday. The firm has a market cap of $3.28 billion, a PE ratio of -21.52 and a beta of -1.70. The business’s 50 day simple moving average is $49.44 and its 200 day simple moving average is $50.23. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, equities research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SLNO shares. Guggenheim reissued a “buy” rating and set a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Robert W. Baird boosted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Laidlaw boosted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $98.86.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in shares of Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after acquiring an additional 1,107,166 shares during the last quarter. FMR LLC boosted its position in Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares during the last quarter. Nantahala Capital Management LLC grew its stake in Soleno Therapeutics by 20.1% in the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after purchasing an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC increased its position in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after purchasing an additional 344,000 shares during the last quarter. Finally, Vestal Point Capital LP raised its stake in shares of Soleno Therapeutics by 47.2% during the 4th quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after purchasing an additional 340,000 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.