Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) insider Patricia C. Hirano sold 3,782 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This represents a 12.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Soleno Therapeutics Trading Up 7.9 %
Shares of SLNO opened at $73.67 on Thursday. The stock has a market cap of $3.38 billion, a P/E ratio of -22.19 and a beta of -2.29. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $73.97. The stock's 50-day moving average price is $50.32 and its two-hundred day moving average price is $50.50.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.
Hedge Funds Weigh In On Soleno Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in SLNO. Wellington Management Group LLP lifted its holdings in Soleno Therapeutics by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company's stock worth $35,163,000 after acquiring an additional 99,095 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Soleno Therapeutics by 23.6% in the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company's stock worth $988,000 after acquiring an additional 4,201 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in shares of Soleno Therapeutics by 296.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company's stock worth $5,637,000 after purchasing an additional 93,800 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at about $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Soleno Therapeutics by 24.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company's stock valued at $1,236,000 after purchasing an additional 5,462 shares during the period. Institutional investors and hedge funds own 97.42% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on SLNO. HC Wainwright increased their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the company a "buy" rating in a research report on Monday. Cantor Fitzgerald raised their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Finally, Guggenheim reiterated a "buy" rating and set a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Soleno Therapeutics currently has an average rating of "Buy" and a consensus target price of $98.86.
Check Out Our Latest Research Report on Soleno Therapeutics
Soleno Therapeutics Company Profile
(
Get Free Report)
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.
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