Michael F. Huang Sells 14,583 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) VP Michael F. Huang sold 14,583 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the sale, the vice president now directly owns 36,817 shares of the company’s stock, valued at $2,559,149.67. This represents a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $73.67 on Thursday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -22.19 and a beta of -2.29. Soleno Therapeutics, Inc. has a one year low of $36.61 and a one year high of $73.97. The business’s 50-day simple moving average is $50.32 and its 200 day simple moving average is $50.50.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, equities research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SLNO. Stifel Nicolaus boosted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Robert W. Baird lifted their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Cantor Fitzgerald lifted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, March 27th. Finally, Guggenheim reissued a “buy” rating and issued a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and an average target price of $98.86.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares in the last quarter. Barclays PLC raised its stake in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares in the last quarter. Emerald Advisers LLC grew its position in shares of Soleno Therapeutics by 85.4% in the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock worth $26,112,000 after acquiring an additional 267,585 shares in the last quarter. State Street Corp grew its position in shares of Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after acquiring an additional 142,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Soleno Therapeutics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock valued at $9,779,000 after acquiring an additional 24,953 shares during the last quarter. 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.