Soleno Therapeutics CFO James Mackaness sells $360,460 in inventory

James Mackaness, the Chief Monetary Officer of Soleno Therapeutics Inc. (NASDAQ:SLNO), an organization presently valued at $1.98 billion, just lately bought shares price roughly $360,460, in accordance with a current SEC submitting. Based on InvestingPro information, analysts keep a powerful bullish outlook with worth targets starting from $67 to $93. The transactions, which happened on January 2 and January 3, concerned the sale of seven,874 shares at costs starting from $45.3656 to $46.1764 per share. These gross sales had been executed to cowl tax withholding obligations associated to the vesting of restricted inventory models. Following the transactions, Mackaness holds 111,298 shares of Soleno Therapeutics. The corporate maintains distinctive liquidity with a present ratio of 17.26, and InvestingPro evaluation reveals 8 further key insights concerning the firm’s monetary well being and market place.

In different current information, Soleno Therapeutics has been the topic of great developments. Stifel has chosen Soleno as certainly one of its prime biotech picks for 2025, citing potential catalysts that might drive the corporate’s inventory worth increased. Soleno is presently awaiting a regulatory choice that might open up new alternatives in uncommon illness markets.

Baird and H.C. Wainwright have maintained their constructive outlooks on Soleno, with worth targets of $72 and $70 respectively, whereas Oppenheimer raised its worth goal primarily based on up to date gross sales projections, and Laidlaw set targets at $75. The U.S. Meals and Drug Administration (FDA) prolonged its assessment interval for Soleno’s New Drug Utility (NDA) for DCCR, a remedy for Prader-Willi syndrome, with a brand new goal motion date set for March 27, 2025.

Regardless of this delay, analysts stay optimistic about DCCR’s eventual approval and anticipate Soleno to start producing income by mid-2025. Moreover, Soleno has 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 models to its workers. The corporate’s Board of Administrators additionally noticed modifications with the appointment of Matthew Pauls as the brand new Lead Unbiased (LON:IOG) Director and the addition of Daybreak Carter Bir. These are the newest developments shaping the trajectory of Soleno Therapeutics.

This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.