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 value of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

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

Soleno Therapeutics Stock Performance

SLNO opened at $73.67 on Thursday. The firm’s fifty day moving average is $50.32 and its two-hundred day moving average is $50.50. The firm has a market cap of $3.38 billion, a PE ratio of -22.19 and a beta of -2.29. Soleno Therapeutics, Inc. has a twelve month low of $36.61 and a twelve month high of $73.97.

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

Wall Street Analysts Forecast Growth

SLNO has been the topic of several recent research reports. Robert W. Baird raised their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. HC Wainwright lifted their price target on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. 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 research note on Thursday, March 27th. Stifel Nicolaus raised their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Finally, Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and an average target price of $98.86.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC increased its stake in Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after purchasing an additional 1,107,166 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Soleno Therapeutics by 20.1% in the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after buying an additional 658,518 shares during the period. Avoro Capital Advisors LLC increased its position in shares of Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after acquiring an additional 344,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Soleno Therapeutics by 19.2% during the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after acquiring an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after acquiring an additional 321,223 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

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.