Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness Sells 8,077 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the sale, the chief financial officer now directly owns 119,172 shares in the company, valued at $5,890,671.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Soleno Therapeutics Price Performance

SLNO stock traded down $0.73 during trading on Thursday, hitting $48.95. 248,573 shares of the stock traded hands, compared to its average volume of 428,487. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -18.26 and a beta of -1.46. Soleno Therapeutics, Inc. has a 1 year low of $21.30 and a 1 year high of $55.56. The firm’s 50 day moving average is $48.81 and its two-hundred day moving average is $45.01.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. As a group, analysts anticipate that Soleno Therapeutics, Inc. will post -2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

SLNO has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Oppenheimer boosted their price objective on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Stifel Nicolaus raised their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, HC Wainwright started coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and a consensus target price of $68.71.

Institutional Trading of Soleno Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $8,557,000. Rafferty Asset Management LLC bought a new stake in Soleno Therapeutics in the 4th quarter worth about $2,088,000. Allspring Global Investments Holdings LLC purchased a new position in Soleno Therapeutics in the 1st quarter worth about $4,444,000. Price T Rowe Associates Inc. MD bought a new position in Soleno Therapeutics during the 1st quarter valued at about $6,533,000. Finally, Sofinnova Investments Inc. lifted its stake in Soleno Therapeutics by 267.7% during the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after acquiring an additional 403,584 shares during the period. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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.