Soleno Therapeutics (NASDAQ:SLNO) Trading Up 3.4%

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) shot up 3.4% during trading on Monday . The stock traded as high as $38.63 and last traded at $38.39. 35,247 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 297,940 shares. The stock had previously closed at $37.14.

Analyst Ratings Changes

Several research firms have recently commented on SLNO. Oppenheimer lifted their target price on Soleno Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a research note on Tuesday, January 2nd. Stifel Nicolaus began coverage on Soleno Therapeutics in a research note on Tuesday, January 23rd. They issued a "buy" rating and a $63.00 target price for the company. Finally, Piper Sandler initiated coverage on Soleno Therapeutics in a research note on Monday, February 5th. They issued an "overweight" rating and a $93.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $55.60.

Soleno Therapeutics Price Performance

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -13.01 and a beta of -1.56. The business has a 50 day simple moving average of $44.94 and a 200-day simple moving average of $36.98.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). As a group, equities analysts predict that Soleno Therapeutics, Inc. will post -1.23 earnings per share for the current year.

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 2,218 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $91,692.12. Following the completion of the transaction, the insider now directly owns 23,422 shares of the company's stock, valued at $968,265.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 2,527 shares of the company's stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $48.30, for a total value of $122,054.10. Following the sale, the chief executive officer now owns 171,770 shares in the company, valued at $8,296,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen Yen sold 2,218 shares of the company's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $91,692.12. Following the completion of the sale, the insider now owns 23,422 shares in the company, valued at approximately $968,265.48. The disclosure for this sale can be found here. Insiders sold 29,297 shares of company stock valued at $1,231,489 over the last three months. Company insiders own 28.80% of the company's stock.

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Soleno Therapeutics by 1,654.9% during the fourth quarter. Vanguard Group Inc. now owns 969,622 shares of the company's stock worth $39,027,000 after purchasing an additional 914,371 shares during the period. Wellington Management Group LLP bought a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $8,557,000. Goldman Sachs Group Inc. bought a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $2,761,000. Virtus ETF Advisers LLC bought a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $100,000. Finally, Legal & General Group Plc bought a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $311,000. 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.