Patricia Hirano, Senior Vice President of Regulatory Affairs at Soleno Therapeutics Inc. (NASDAQ:), not too long ago offered shares of the corporate. In response to a submitting with the Securities and Change Fee, Hirano offered a complete of three,030 shares of widespread inventory on January 2 and January 3, 2025. The gross sales have 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 value targets between $67 and $93. In response to InvestingPro evaluation, the inventory at the moment seems overvalued relative to its Truthful Worth.
The gross sales have been carried out 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 powerful monetary well being rating of two.22 (FAIR), with one key power being that it holds more money than debt on its steadiness sheet. Subscribers can entry 6 further 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 serious developments. Stifel has chosen Soleno Therapeutics as considered one of its prime biotech picks for 2025, citing upcoming catalysts that might drive the corporate’s worth increased. The agency additionally famous that Soleno Therapeutics is awaiting a regulatory choice, which might 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 embody adjustments in Soleno’s Board of Administrators with the appointment of Matthew Pauls as the brand new Lead Unbiased (LON:) Director and the addition of Daybreak Carter Bir. The corporate has additionally entered into an settlement with Jefferies LLC to doubtlessly promote as much as $150 million of its widespread inventory and awarded performance-based restricted inventory items to its staff.
The U.S. Meals and Drug Administration (FDA) prolonged its assessment interval for Soleno’s New Drug Utility (NDA) for DCCR, with a brand new goal motion date set for March 27, 2025. Regardless of the prolonged assessment interval, analysts from varied corporations preserve a optimistic outlook on Soleno, with value targets starting from $67 to $93.
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