Patricia Hirano, Senior Vice President of Corporate Affairs at Soleno Therapeutics Inc. (NASDAQ:), recently sold shares of the company. According to a filing with the Securities and Exchange Commission, Hirano sold 3,030 shares of common stock on January 2 and January 3, 2025. The sale was executed at prices ranging from $45.3656 to $46.1764 per share, which is equal to the total value. about $138,709. The exchange comes as the $2 billion market cap company is trading near $46 per share, with analysts placing a target price between $67 and $93. According to InvestingPro analysis, the stock currently appears overvalued compared to its Fair Value.
The sales were made to settle the withholding tax obligations related to the issuance of restricted stock units (RSUs). Following this transaction, Hirano retains ownership of 105,902 shares of Soleno Therapeutics. InvestingPro data shows that the company maintains a solid financial health score of 2.22 (FAIR), and the main strength is that it holds more cash than debt on its balance sheet. Subscribers have access to 6 additional ProTips and a comprehensive Pro Research Report for in-depth insight into SLNO's financial situation.
In other recent news, Soleno Therapeutics has been the subject of significant developments. Stifel has selected Soleno Therapeutics as one of its top biotech picks for 2025, citing factors that will drive the company's value higher. The firm also noted that Soleno Therapeutics is awaiting a regulatory decision, which could open up new opportunities in the rare disease market. Analysts from Baird, HC Wainwright, Oppenheimer, and Laidlaw remain optimistic about Soleno's product, DCCR, for Prader-Willi syndrome, which plans to start generating revenue in the middle of 2025.
Other recent developments include changes to Soleno's Board of Directors with the appointment of Matthew Pauls as the new Leader. Independence (LON:) Director and addition of Dawn Carter Bir. The company also entered into an agreement with Jefferies LLC to sell up to $150 million of its common stock and grant its employees performance-based stock units.
The US Food and Drug Administration (FDA) has extended its review period for Soleno's New Drug Application (NDA) for the DCCR, with a new target date set for March 27, 2025. Despite the additional review period, analysts from the firms different keep positive. view on the Soleno, with a target price from $67 to $93.
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