Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Sells $22,410.50 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) insider Patricia C. Hirano sold 266 shares of Soleno Therapeutics stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $84.25, for a total transaction of $22,410.50. Following the sale, the insider now owns 17,036 shares of the company's stock, valued at $1,435,283. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock traded down $1.77 during trading hours on Thursday, reaching $84.02. The stock had a trading volume of 1,035,724 shares, compared to its average volume of 786,922. The stock's 50 day moving average is $76.04 and its 200 day moving average is $59.51. The company has a current ratio of 19.64, a quick ratio of 19.64 and a debt-to-equity ratio of 0.21. Soleno Therapeutics, Inc. has a twelve month low of $39.41 and a twelve month high of $86.67. The firm has a market capitalization of $4.23 billion, a PE ratio of -18.19 and a beta of -2.69.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. Equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. AlphaQuest LLC increased its holdings in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $34,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $81,000. Summit Investment Advisors Inc. increased its stake 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 purchasing an additional 522 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Soleno Therapeutics during the 1st quarter worth about $121,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLNO has been the topic of a number of research reports. Guggenheim increased their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. UBS Group set a $105.00 price target on Soleno Therapeutics in a research report on Thursday, March 27th. Cantor Fitzgerald lifted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Piper Sandler upped their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $107.10.

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.

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