Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Director Sells $424,792.35 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) Director Matthew Pauls sold 5,937 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $71.55, for a total transaction of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares of the company’s stock, valued at approximately $465,075. This trade represents a 47.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Soleno Therapeutics Stock Up 7.9 %

NASDAQ:SLNO opened at $73.67 on Thursday. Soleno Therapeutics, Inc. has a twelve month low of $36.61 and a twelve month high of $73.97. The company has a fifty day moving average of $50.32 and a 200-day moving average of $50.50. The firm has a market capitalization of $3.38 billion, a P/E ratio of -22.19 and a beta of -2.29.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. Janus Henderson Group PLC increased its holdings in shares of Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after acquiring an additional 1,107,166 shares in the last quarter. Nantahala Capital Management LLC increased its stake in Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after purchasing an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC raised its holdings 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 worth $113,499,000 after buying an additional 344,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Soleno Therapeutics by 19.2% in the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after buying an additional 303,806 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Soleno Therapeutics by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after buying an additional 321,223 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

SLNO has been the subject of a number of recent research reports. Laidlaw increased their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. HC Wainwright raised their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird upped their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Finally, Stifel Nicolaus boosted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.