Patricia C. Hirano Sells 128,653 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the transaction, the insider now directly owns 55,789 shares in the company, valued at approximately $3,811,504.48. This represents a 69.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Soleno Therapeutics Stock Down 4.5 %

Shares of NASDAQ:SLNO opened at $68.26 on Wednesday. The firm has a market capitalization of $3.13 billion, a PE ratio of -20.56 and a beta of -1.70. The company has a 50-day moving average price of $49.82 and a two-hundred day moving average price of $50.34. Soleno Therapeutics, Inc. has a twelve month low of $36.61 and a twelve month high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after purchasing an additional 1,107,166 shares during the period. FMR LLC lifted its holdings in shares of Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares in the last quarter. Nantahala Capital Management LLC boosted its position in shares of Soleno Therapeutics by 20.1% in the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC grew its stake in Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares in the last quarter. Finally, Vestal Point Capital LP increased its holdings in Soleno Therapeutics by 47.2% during the 4th quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after acquiring an additional 340,000 shares during the period. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLNO has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Cantor Fitzgerald raised their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Soleno Therapeutics has an average rating of “Buy” and an average target price of $98.86.

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.