Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Kristen Yen Sells 2,340 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $45.90 on Tuesday. The stock has a market capitalization of $1.98 billion, a P/E ratio of -13.83 and a beta of -1.47. The company has a 50 day moving average price of $51.24 and a 200 day moving average price of $49.24. Soleno Therapeutics, Inc. has a fifty-two week low of $36.20 and a fifty-two week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, research analysts forecast that Soleno Therapeutics, Inc. will post -3.7 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 grew its holdings in Soleno Therapeutics by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after acquiring an additional 722,226 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after acquiring an additional 671,728 shares in the last quarter. FMR LLC grew its holdings in Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after acquiring an additional 665,363 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Soleno Therapeutics in the 3rd quarter valued at $25,028,000. Finally, Avoro Capital Advisors LLC boosted its holdings in shares of Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after buying an additional 466,666 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLNO. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer boosted their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and an average price target of $74.83.

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.