Kristen Yen Sells 3,108 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the sale, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Kristen Yen also recently made the following trade(s):

• On Wednesday, August 28th, Kristen Yen sold 5,270 shares of Soleno Therapeutics stock. The stock was sold at an average price of $47.58, for a total transaction of $250,746.60.
• On Monday, August 5th, Kristen Yen sold 5,017 shares of Soleno Therapeutics stock. The stock was sold at an average price of $45.77, for a total transaction of $229,628.09.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded down $0.73 during trading hours on Thursday, hitting $48.95. The company’s stock had a trading volume of 248,573 shares, compared to its average volume of 428,487. The company has a market cap of $1.64 billion, a P/E ratio of -18.26 and a beta of -1.46. The company’s 50 day simple moving average is $48.81 and its two-hundred day simple moving average is $45.01. Soleno Therapeutics, Inc. has a 12 month low of $21.30 and a 12 month high of $55.56.

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

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vestal Point Capital LP purchased a new stake in Soleno Therapeutics during the fourth quarter valued at $52,325,000. Carlyle Group Inc. boosted its position in Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock worth $173,123,000 after purchasing an additional 1,213,758 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Soleno Therapeutics by 107.0% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock valued at $69,550,000 after purchasing an additional 840,000 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at about $29,778,000. Finally, Nantahala Capital Management LLC lifted its stake in shares of Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after purchasing an additional 671,728 shares during the period. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.