Soleno Therapeutics (NASDAQ:SLNO) Stock Price Down 3.4% - Should You Sell?

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) dropped 3.4% during mid-day trading on Wednesday . The company traded as low as $48.50 and last traded at $48.40. Approximately 379,566 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 525,409 shares. The stock had previously closed at $50.11.Get Soleno Therapeutics alerts:Analyst Ratings ChangesSLNO has been the subject of a number of analyst reports. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Stifel Nicolaus initiated coverage on Soleno Therapeutics in a research report on Wednesday, March 5th. They issued a "buy" rating and a $74.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Finally, Robert W. Baird reiterated an "outperform" rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $71.20.Get Our Latest Analysis on Soleno TherapeuticsSoleno Therapeutics Price PerformanceThe stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -14.55 and a beta of -1.70. The business has a fifty day moving average of $47.43 and a 200 day moving average of $49.77. Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year. Insiders Place Their BetsIn other news, insider Kristen Yen sold 2,340 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now owns 76,605 shares of the company's stock, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock worth $790,119 over the last ninety days. Corporate insiders own 12.30% of the company's stock. Institutional Trading of Soleno TherapeuticsA number of large investors have recently modified their holdings of SLNO. Victory Capital Management Inc. increased its position in shares of Soleno Therapeutics by 25.9% during the third quarter. Victory Capital Management Inc. now owns 13,509 shares of the company's stock worth $682,000 after acquiring an additional 2,782 shares during the period. Intech Investment Management LLC purchased a new position in Soleno Therapeutics in the third quarter valued at $262,000. HealthInvest Partners AB purchased a new position in Soleno Therapeutics in the third quarter valued at $1,332,000. Charles Schwab Investment Management Inc. increased its holdings in Soleno Therapeutics by 208.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company's stock valued at $9,724,000 after buying an additional 130,080 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Soleno Therapeutics in the third quarter valued at $25,028,000. Hedge funds and other institutional investors own 97.42% of the company's stock. About Soleno Therapeutics (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.Featured StoriesFive stocks we like better than Soleno TherapeuticsShort Selling - The Pros and Cons What GTC 2025 Signals for NVIDIA Stock’s Next Big MoveHow to Calculate Options ProfitsAlphabet’s Officially In A Bear Market—Time To Buy?Options Trading - Understanding Strike PriceD-Wave and Quantum Supremacy: Implications For InvestorsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Soleno Therapeutics Right Now?Before you consider Soleno Therapeutics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Soleno Therapeutics wasn't on the list.While Soleno Therapeutics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here