Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness Sells 5,175 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 5,175 shares of Soleno Therapeutics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $213,934.50. Following the sale, the chief financial officer now owns 62,953 shares in the company, valued at $2,602,477.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Soleno Therapeutics Trading Down 0.1 %

Shares of NASDAQ SLNO opened at $41.76 on Thursday. Soleno Therapeutics, Inc. has a twelve month low of $2.20 and a twelve month high of $53.82. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -14.06 and a beta of -1.56. The business has a 50 day simple moving average of $45.92 and a 200-day simple moving average of $35.28.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). As a group, equities analysts predict that Soleno Therapeutics, Inc. will post -1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shell Asset Management Co. acquired a new position in Soleno Therapeutics during the 4th quarter valued at approximately $84,000. Virtus ETF Advisers LLC acquired a new position in Soleno Therapeutics during the 4th quarter valued at approximately $100,000. Charles Schwab Investment Management Inc. acquired a new position in Soleno Therapeutics during the 4th quarter valued at approximately $290,000. Tower Research Capital LLC TRC boosted its position in Soleno Therapeutics by 898.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,299 shares of the company’s stock valued at $215,000 after purchasing an additional 6,568 shares during the period. Finally, Legal & General Group Plc acquired a new position in Soleno Therapeutics during the 4th quarter valued at approximately $311,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a report on Tuesday, January 23rd. They issued a “buy” rating and a $63.00 price target for the company. Oppenheimer boosted their price target on Soleno Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Finally, Piper Sandler assumed coverage on Soleno Therapeutics in a report on Monday, February 5th. They issued an “overweight” rating and a $93.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $55.60.

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.