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REDWOOD CITY, CA—Soleno Therapeutics Inc. (NASDAQ:SLNO), a $1.98 billion market cap biopharmaceutical firm, just lately disclosed a sequence of inventory gross sales by Kristen Yen, the corporate’s Senior Vice President of Scientific Operations. The transactions, filed with the Securities and Change Fee, happened on January 2 and three, 2025.
Yen offered a complete of 4,860 shares of Soleno Therapeutics’ widespread inventory, amounting to roughly $222,483. The gross sales had been executed at costs starting from $45.37 to $46.18 per share. Following these transactions, Yen holds 76,605 shares of the corporate. In response to InvestingPro information, analysts preserve a robust purchase consensus with worth targets starting from $67 to $93, suggesting important upside potential.
These gross sales had been performed to cowl tax withholding obligations associated to the vesting of restricted inventory items. The weighted common costs replicate a number of trades throughout the specified vary. With a “FAIR” monetary well being rating from InvestingPro and eight extra key insights accessible for subscribers, traders can acquire deeper understanding of SLNO’s market place and progress prospects.
In different current information, Soleno Therapeutics, Rhythm Prescribed drugs (NASDAQ:RYTM), and Verve Therapeutics have been highlighted by Stifel as high biotech picks for 2025. Soleno Therapeutics is awaiting a regulatory choice for its product, with a PDUFA date set for March 27, 2025, which might provoke a interval of income progress and profitability. Verve Therapeutics’ upcoming Section 1b Coronary heart-2 information might distinguish its PCSK9 editor, significantly by way of security.
Rhythm Prescribed drugs has been famous for its give attention to hypothalamic weight problems, and Soleno Therapeutics for its work on Prader-Willi syndrome. These developments might appeal to merger and acquisition curiosity or strategic partnerships. The FDA has prolonged its evaluate interval for Soleno’s New Drug Utility for DCCR, a therapy for Prader-Willi syndrome, with a brand new goal motion date set for March 27, 2025.
Analysts from Baird, H.C. Wainwright, Oppenheimer, and Laidlaw stay optimistic about DCCR’s eventual approval and anticipate Soleno to start producing income by mid-2025. Soleno 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. Moreover, Soleno’s Board of Administrators noticed adjustments with the appointment of Matthew Pauls as the brand new Lead Unbiased (LON:IOG) Director and the addition of Daybreak Carter Bir.
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