Soleno Therapeutics (NASDAQ:SLNO) Stock Passes Above Fifty Day Moving Average – Should You Sell?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $47.18 and traded as high as $52.46. Soleno Therapeutics shares last traded at $49.17, with a volume of 525,708 shares trading hands.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird restated an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus reissued a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Oppenheimer lifted their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $71.20.

Soleno Therapeutics Price Performance

The business’s 50 day moving average is $47.18 and its 200 day moving average is $49.98. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -14.81 and a beta of -1.46.

Insider Activity

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the transaction, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares during the period. Barclays PLC raised its position in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after buying an additional 31,467 shares in the last quarter. State Street Corp raised its position in shares of Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after buying an additional 142,033 shares in the last quarter. Holocene Advisors LP raised its position in shares of Soleno Therapeutics by 10.8% during the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after buying an additional 57,913 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after purchasing an additional 51,189 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.