Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Patricia C. Hirano Sells 3,782 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 3,782 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. The trade was a 12.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $67.48 on Friday. Soleno Therapeutics, Inc. has a twelve month low of $36.61 and a twelve month high of $74.00. The firm has a market cap of $3.09 billion, a P/E ratio of -20.33 and a beta of -2.29. The firm’s 50-day simple moving average is $51.19 and its 200-day simple moving average is $50.75.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data 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 analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC boosted its stake in shares of 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 purchasing an additional 658 shares in the last quarter. US Bancorp DE bought a new stake in Soleno Therapeutics during the fourth quarter worth about $34,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics during the fourth quarter worth about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $81,000. Finally, Avior Wealth Management LLC bought a new position in shares of Soleno Therapeutics in the fourth quarter valued at approximately $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SLNO. Robert W. Baird upped their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Laidlaw raised their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Cantor Fitzgerald upped their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Stifel Nicolaus lifted their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $99.63.

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.