Soleno Therapeutics senior VP Patricia Hirano sells $138,709 in inventory

Patricia Hirano, Senior Vice President of Regulatory Affairs at Soleno Therapeutics Inc. (NASDAQ:SLNO), lately offered shares of the corporate. In line with a submitting with the Securities and Trade Fee, Hirano offered a complete of three,030 shares of widespread inventory on January 2 and January 3, 2025. The gross sales had been executed at costs starting from $45.3656 to $46.1764 per share, amounting to a complete worth of roughly $138,709. The transaction occurred because the $2 billion market cap firm trades close to $46 per share, with analysts setting worth targets between $67 and $93. In line with InvestingPro evaluation, the inventory at the moment seems overvalued relative to its Truthful Worth.

The gross sales had been performed to cowl tax withholding obligations associated to the vesting of restricted inventory items (RSUs). Following these transactions, Hirano retains possession of 105,902 shares of Soleno Therapeutics. InvestingPro information reveals the corporate maintains a robust monetary well being rating of two.22 (FAIR), with one key power being that it holds more money than debt on its stability sheet. Subscribers can entry 6 extra ProTips and a complete Professional Analysis Report for deeper insights into SLNO’s monetary place.

In different current information, Soleno Therapeutics has been the topic of great developments. Stifel has chosen Soleno Therapeutics as one in every of its prime biotech picks for 2025, citing upcoming catalysts that would drive the corporate’s worth larger. The agency additionally famous that Soleno Therapeutics is awaiting a regulatory resolution, which may open up new alternatives in uncommon illness markets. Analysts from Baird, H.C. Wainwright, Oppenheimer, and Laidlaw stay optimistic about Soleno’s product, DCCR, for Prader-Willi syndrome, projecting to start producing income by mid-2025.

Different current developments embrace modifications in Soleno’s Board of Administrators with the appointment of Matthew Pauls as the brand new Lead Impartial (LON:IOG) Director and the addition of Daybreak Carter Bir. The corporate has additionally entered into an settlement with Jefferies LLC to probably promote as much as $150 million of its widespread inventory and awarded performance-based restricted inventory items to its workers.

The U.S. Meals and Drug Administration (FDA) prolonged its evaluate interval for Soleno’s New Drug Software (NDA) for DCCR, with a brand new goal motion date set for March 27, 2025. Regardless of the prolonged evaluate interval, analysts from varied corporations keep a constructive outlook on Soleno, with worth targets starting from $67 to $93.

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