Patricia Hirano, Senior Vice President of Regulatory Affairs at Soleno Therapeutics Inc. (NASDAQ: ), recently sold shares in the company. According to a filing with the Securities and Exchange Commission, Hirano sold a total of 3,030 common shares on January 2 and January 3, 2025. The sales were made at prices ranging from $45.3656 to $46.1764 per share, for a total value of approximately $138,709. The transaction comes as the $2 billion company is trading near $46 a share, with analysts setting a price target of between $67 and $93. According to InvestingPro analysis, the stock currently appears overvalued relative to its fair value.
The sale was made to cover withholding tax obligations related to the vesting of restricted stock units (RSUs). Following these transactions, Hirano retains ownership of 105,902 shares of Soleno Therapeutics. InvestingPro data reveals that the company maintains a strong financial health score of 2.22 (FAIR), and one of its key strengths is that it holds more cash than debt on its balance sheet. Subscribers can access 6 additional expert tips and a comprehensive professional research report for deeper insight into SLNO’s financial position.
In other recent news, Soleno Therapeutics is the subject of significant development. Stifel selected Soleno Therapeutics as one of its top biotech picks for 2025, citing upcoming catalysts that could increase the company’s value. The company also noted that Soleno Therapeutics is awaiting a regulatory decision, which could open up new opportunities in the rare disease markets. Analysts at Baird, HC Wainwright, Oppenheimer and Laidlaw remain bullish on Solen’s product, DCCR, for Prader-Willi syndrome, predicting it will start generating revenue by mid-2025.
Other recent developments include changes to the Solen Board of Directors with the appointment of Matthew Pauls as the new leader Independent (LON:) Directed and added by Dawn Carter Bir. The company also entered into an agreement with Jefferies LLC to potentially sell up to $150 million of its common stock and grant performance-based restricted stock to its employees.
The US Food and Drug Administration (FDA) has extended its review period for Solen’s New Drug Application (NDA) for DCCR, with a new target date of action set at March 27, 2025. Despite the extended review period, analysts from various companies are maintaining a positive outlook outlook for Soleno, with a price target ranging from $67 to $93.
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