James H. Mackaness Sells 8,077 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now directly owns 119,172 shares in the company, valued at approximately $5,890,671.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Soleno Therapeutics Trading Up 1.4 %

SLNO opened at $49.63 on Friday. The company’s fifty day moving average price is $48.87 and its two-hundred day moving average price is $45.08. Soleno Therapeutics, Inc. has a 1-year low of $21.30 and a 1-year high of $55.56. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -18.52 and a beta of -1.45.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.06. As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer increased their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Finally, HC Wainwright initiated coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $70.00 target price on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $68.71.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLNO. Amalgamated Bank purchased a new stake in shares of Soleno Therapeutics in the second quarter valued at about $31,000. Victory Capital Management Inc. raised its holdings in shares of Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after purchasing an additional 2,236 shares during the last quarter. Cannon Global Investment Management LLC purchased a new stake in shares of Soleno Therapeutics in the first quarter valued at about $505,000. Sei Investments Co. raised its holdings in shares of Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Soleno Therapeutics in the second quarter valued at about $569,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.