Bhatnagar Anish Sells 21,633 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 21,633 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at approximately $35,567,504.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, August 28th, Bhatnagar Anish sold 56,613 shares of Soleno Therapeutics stock. The shares were sold at an average price of $47.58, for a total value of $2,693,646.54.
• On Monday, August 5th, Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock. The shares were sold at an average price of $45.77, for a total transaction of $2,664,409.01.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $49.63 on Friday. The stock’s 50-day moving average is $48.87 and its 200-day moving average is $45.08. The company has a market cap of $1.66 billion, a P/E ratio of -18.52 and a beta of -1.45. Soleno Therapeutics, Inc. has a 52-week low of $21.30 and a 52-week high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. As a group, equities analysts predict that Soleno Therapeutics, Inc. will post -2.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SLNO shares. HC Wainwright initiated coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price target on the stock. Oppenheimer increased their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, Stifel Nicolaus increased their price objective on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $68.71.

Hedge Funds Weigh In On Soleno Therapeutics

Several large investors have recently bought and sold shares of the stock. Wellington Management Group LLP bought a new position in shares of Soleno Therapeutics during the 4th quarter worth about $8,557,000. Rafferty Asset Management LLC bought a new position in Soleno Therapeutics during the fourth quarter valued at about $2,088,000. Allspring Global Investments Holdings LLC acquired a new position in Soleno Therapeutics in the 1st quarter valued at approximately $4,444,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Soleno Therapeutics in the 1st quarter worth approximately $6,533,000. Finally, Sofinnova Investments Inc. grew its holdings in shares of Soleno Therapeutics by 267.7% during the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after purchasing an additional 403,584 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.