Yahoo Finance Insider Sell: CFO James Mackaness Sells 5,175 Shares of Soleno Therapeutics Inc (SLNO)
Soleno Therapeutics Inc (NASDAQ:SLNO), a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company's lead candidate is a proprietary formulation of diazoxide choline controlled-release, which is in Phase III clinical development for the treatment of Prader-Willi syndrome.According to a recent SEC filing, Chief Financial Officer James Mackaness sold 5,175 shares of Soleno Therapeutics Inc (NASDAQ:SLNO) on April 1, 2024. The transaction was executed at an average price of $41.34 per share, resulting in a total value of $213,939.50.Over the past year, James Mackaness has engaged in significant insider trading activity, selling a total of 49,924 shares and making no purchases of the company's stock. This latest transaction continues the trend of insider sales for the company.The insider transaction history for Soleno Therapeutics Inc (NASDAQ:SLNO) indicates a pattern of insider activity. In the past year, there have been 5 insider buys and 19 insider sells. This data suggests a predominance of insider selling over buying within the company.
On the valuation front, shares of Soleno Therapeutics Inc (NASDAQ:SLNO) were trading at $41.34 on the day of the insider's recent sale, giving the company a market capitalization of approximately $1.353 billion.For investors monitoring insider behaviors as an indicator of company performance and direction, the ongoing selling activity by insiders, including the Chief Financial Officer, may be of interest. However, it is important to consider the broader context of the market and the company's strategic developments when evaluating these transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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