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 the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $84.25, for a total value of $22,410.50. Following the transaction, the insider now owns 17,036 shares of the company's stock, valued at approximately $1,435,283. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Soleno Therapeutics Trading Down 0.9%

NASDAQ SLNO traded down $0.77 on Friday, hitting $83.25. 3,275,285 shares of the stock were exchanged, compared to its average volume of 786,713. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64. The stock has a fifty day moving average price of $76.59 and a two-hundred day moving average price of $60.09. The firm has a market capitalization of $4.19 billion, a P/E ratio of -18.02 and a beta of -2.69. Soleno Therapeutics, Inc. has a 52-week low of $39.41 and a 52-week high of $86.67.

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

Analyst Upgrades and Downgrades

SLNO has been the subject of a number of recent research reports. Stifel Nicolaus boosted 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, March 28th. Cantor Fitzgerald boosted 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 boosted their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research note on Thursday, March 27th. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of Soleno Therapeutics in a research note 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 data from MarketBeat, Soleno Therapeutics presently has a consensus rating of "Buy" and an average price target of $107.10.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its holdings in shares of Soleno Therapeutics by 5.9% in the first quarter. Rhumbline Advisers now owns 36,439 shares of the company's stock valued at $2,604,000 after acquiring an additional 2,044 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Soleno Therapeutics by 48.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company's stock worth $2,909,000 after purchasing an additional 13,211 shares in the last quarter. Optimize Financial Inc bought a new position in Soleno Therapeutics in the first quarter worth about $274,000. Woodline Partners LP raised its holdings in Soleno Therapeutics by 16.0% in the first quarter. Woodline Partners LP now owns 349,664 shares of the company's stock worth $24,983,000 after purchasing an additional 48,102 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in Soleno Therapeutics by 172.8% in the first quarter. Fred Alger Management LLC now owns 40,394 shares of the company's stock worth $2,886,000 after purchasing an additional 25,589 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.