Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Patricia C. Hirano Sells 3,830 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares in the company, valued at $1,092,928.56. The trade was a 22.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Soleno Therapeutics Stock Performance

NASDAQ SLNO traded up $0.43 on Thursday, reaching $86.64. The stock had a trading volume of 330,112 shares, compared to its average volume of 787,870. The company has a debt-to-equity ratio of 0.21, a current ratio of 19.64 and a quick ratio of 19.64. The company has a market cap of $4.37 billion, a P/E ratio of -18.75 and a beta of -2.63. The firm has a fifty day moving average of $77.39 and a two-hundred day moving average of $60.78. Soleno Therapeutics, Inc. has a 1-year low of $39.73 and a 1-year high of $87.25.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. On average, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Institutional Trading of Soleno Therapeutics

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its holdings in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics in the 4th quarter valued at approximately $34,000. Springhill Fund Asset Management HK Co Ltd bought a new stake in shares of Soleno Therapeutics during the fourth quarter worth $81,000. Summit Investment Advisors Inc. increased its holdings in shares of Soleno Therapeutics by 24.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after buying an additional 522 shares in the last quarter. Finally, Quarry LP bought a new position in shares of Soleno Therapeutics in the 1st quarter valued at $121,000. 97.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SLNO shares. Guggenheim lifted their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 8th. TD Cowen began coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They set a "buy" rating and a $110.00 price target for the company. Cantor Fitzgerald boosted their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Cowen initiated coverage on Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Stifel Nicolaus boosted their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $107.10.

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.

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