Patricia C. Hirano Sells 128,653 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) insider Patricia C. Hirano sold 128,653 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Soleno Therapeutics Stock Up 7.9 %

SLNO stock opened at $73.67 on Thursday. The stock has a market cap of $3.38 billion, a PE ratio of -22.19 and a beta of -2.29. The firm’s 50-day simple moving average is $50.32 and its 200 day simple moving average is $50.50. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $73.97.

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

Institutional Trading of Soleno Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Soleno Therapeutics by 6,048,754.5% during the third 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 during the period. Barclays PLC grew its position in Soleno Therapeutics by 149.3% in the 3rd 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 increased its stake in Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after buying an additional 267,585 shares during the period. State Street Corp raised its position in shares of Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after buying an additional 142,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 worth $9,779,000 after acquiring an additional 24,953 shares during the period. Institutional investors own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLNO. Guggenheim reissued a “buy” rating and issued a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Robert W. Baird upped their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. HC Wainwright raised their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $98.86.

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.