Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish Sells 699,095 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 699,095 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. The trade was a 54.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bhatnagar Anish also recently made the following trade(s):

• On Thursday, January 2nd, Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17.

Soleno Therapeutics Stock Down 0.8 %

Soleno Therapeutics stock traded down $0.54 during midday trading on Monday, reaching $71.45. The stock had a trading volume of 4,004,984 shares, compared to its average volume of 649,585. The firm has a market capitalization of $3.28 billion, a PE ratio of -21.52 and a beta of -1.70. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $73.97. The firm’s 50-day moving average price is $48.94 and its 200 day moving average price is $50.08.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors have recently made changes to their positions in the stock. AlphaQuest LLC grew its position in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics in the 4th quarter worth about $34,000. Avanza Fonder AB purchased a new position in Soleno Therapeutics during the 4th quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd bought a new stake in shares of Soleno Therapeutics during the fourth quarter valued at about $81,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth about $89,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLNO shares. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus boosted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. HC Wainwright raised their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Monday. Finally, Cantor Fitzgerald boosted their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Soleno Therapeutics currently has an average rating of “Buy” and an average target price of $98.86.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.