Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells $496,649.17 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $44.52 on Thursday. The stock’s fifty day moving average is $50.62 and its two-hundred day moving average is $49.28. The firm has a market capitalization of $1.92 billion, a P/E ratio of -13.41 and a beta of -1.47. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

Institutional Trading of Soleno Therapeutics

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in Soleno Therapeutics by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after acquiring an additional 3,666 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $490,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Soleno Therapeutics in the 3rd quarter valued at about $656,000. Geode Capital Management LLC lifted its position in Soleno Therapeutics by 10.5% in the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after buying an additional 51,189 shares during the last quarter. Finally, Barclays PLC boosted its stake in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after buying an additional 31,467 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Oppenheimer lifted their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. HC Wainwright restated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Company Profile

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.