Soleno Therapeutics, Inc. (NASDAQ:SLNO) Insider Patricia C. Hirano Sells 3,782 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) 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 in the company, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Soleno Therapeutics Stock Up 7.9 %

SLNO traded up $5.41 during trading on Wednesday, reaching $73.67. The stock had a trading volume of 1,961,632 shares, compared to its average volume of 661,051. The stock has a 50 day moving average of $49.82 and a two-hundred day moving average of $50.34. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $73.97. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -22.19 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SLNO. Laidlaw lifted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Guggenheim reissued a “buy” rating and issued a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Robert W. Baird boosted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $98.86.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds have recently bought and sold shares of SLNO. AlphaQuest LLC grew its position in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics in the fourth quarter worth $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in Soleno Therapeutics during the 4th quarter valued at about $81,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics during the fourth quarter worth $89,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.