REDWOOD CITY, CA—Soleno Therapeutics Inc. (NASDAQ:SLNO), a $1.98 billion market cap biopharmaceutical company, recently disclosed a series of stock sales by Kristen Yen, the company's Senior Vice President of Clinical Operations. The transactions, filed with the Securities and Exchange Commission, took place on January 2 and 3, 2025.
Yen sold a total of 4,860 shares of Soleno Therapeutics' common stock, amounting to approximately $222,483. The sales were executed at prices ranging from $45.37 to $46.18 per share. Following these transactions, Yen holds 76,605 shares of the company. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $67 to $93, suggesting significant upside potential.
These sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units. The weighted average prices reflect multiple trades within the specified range. With a "FAIR" financial health score from InvestingPro and 8 additional key insights available for subscribers, investors can gain deeper understanding of SLNO's market position and growth prospects.
In other recent news, Soleno Therapeutics, Rhythm Pharmaceuticals (NASDAQ:RYTM), and Verve Therapeutics have been highlighted by Stifel as top biotech picks for 2025. Soleno Therapeutics is awaiting a regulatory decision for its product, with a PDUFA date set for March 27, 2025, which could initiate a period of revenue growth and profitability. Verve Therapeutics' upcoming Phase 1b Heart-2 data could distinguish its PCSK9 editor, particularly in terms of safety.
Rhythm Pharmaceuticals has been noted for its focus on hypothalamic obesity, and Soleno Therapeutics for its work on Prader-Willi syndrome. These developments could attract merger and acquisition interest or strategic partnerships. The FDA has extended its review period for Soleno's New Drug Application for DCCR, a treatment for Prader-Willi syndrome, with a new target action date set for March 27, 2025.
Analysts from Baird, H.C. Wainwright, Oppenheimer, and Laidlaw remain optimistic about DCCR's eventual approval and anticipate Soleno to begin generating revenue by mid-2025. Soleno also entered into an agreement with Jefferies LLC to potentially sell up to $150 million of its common stock and awarded performance-based restricted stock units to its employees. Additionally, Soleno's Board of Directors saw changes with the appointment of Matthew Pauls as the new Lead Independent (LON:IOG) Director and the addition of Dawn Carter Bir.
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