Michael F. Huang Sells 14,583 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang sold 14,583 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $69.51, for a total value of $1,013,664.33. Following the sale, the vice president now directly owns 36,817 shares of the company’s stock, valued at $2,559,149.67. This trade represents a 28.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Soleno Therapeutics Stock Performance

SLNO opened at $71.45 on Tuesday. The company has a fifty day moving average of $49.44 and a two-hundred day moving average of $50.23. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $73.97. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

SLNO has been the subject of several research reports. Guggenheim restated a “buy” rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday. HC Wainwright raised their target price on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird upped their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Stifel Nicolaus lifted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Finally, Cantor Fitzgerald boosted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $98.86.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. AlphaQuest LLC grew its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $34,000. Avanza Fonder AB acquired a new position in Soleno Therapeutics during the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the 4th quarter worth approximately $81,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $89,000. 97.42% of the stock is currently 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.