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In a recent transaction, Yen Kristen, Senior Vice President of Global Clinical Operations and Patient Advocacy at Soleno Therapeutics Inc. (NASDAQ:SLNO), sold a significant portion of the company’s common stock. The sale comes as SLNO trades near its 52-week high of $73.97, having delivered impressive returns of 59% year-to-date. According to InvestingPro analysis, the stock’s technical indicators suggest overbought conditions. The sale, which took place on March 27, 2025, involved a total of 73,631 shares sold at prices ranging from $65.9957 to $66.9528 per share, amounting to approximately $4.88 million.
Additionally, Kristen executed other transactions involving the company’s stock. These included sales of smaller lots at prices between $65.9691 and $72.6391, totaling $1.49 million. On the same day, Kristen also exercised options to acquire 40,638 shares at prices ranging from $2.41 to $5.25, totaling $201,966.
Following these transactions, Kristen’s direct ownership of Soleno Therapeutics’ stock is reported to be 51,618 shares. The company’s shares are traded on the NASDAQ under the ticker symbol SLNO. With a market capitalization of $3.31 billion, InvestingPro analysis indicates the stock is currently trading above its Fair Value. Discover 16 additional key insights and comprehensive analysis available in the Pro Research Report.
In other recent news, Soleno Therapeutics has received FDA approval for its VYKAT XR (diazoxide choline) extended-release tablets, intended for treating hyperphagia in Prader-Willi Syndrome (PWS) patients aged four and above. This approval marks a significant milestone for the company, with the drug expected to be available in the U.S. market by April 2025. Following this development, several analysts have adjusted their price targets for Soleno. H.C. Wainwright raised its target from $70 to $100, while Stifel increased its target from $74 to $108, both maintaining a Buy rating. Guggenheim also raised its target to $81, citing a target addressable market encompassing 50% of the estimated 10,000 U.S. PWS patients. Piper Sandler maintained a $93 target, emphasizing the drug’s clean label and favorable pricing strategy. The expected revenue opportunities for Soleno have been adjusted upwards, with Stifel projecting approximately $2 billion in revenue, compared to previous estimates of $1.6 billion. Analysts express confidence in the drug’s market potential, highlighting its favorable risk/benefit profile and the well-diagnosed PWS patient population.
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