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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. This trade represents a 54.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $45.41, for a total transaction of $496,649.17.

Soleno Therapeutics Stock Performance

SLNO opened at $71.45 on Tuesday. The firm has a market cap of $3.28 billion, a P/E ratio of -21.52 and a beta of -1.70. The business’s fifty day moving average is $49.44 and its 200-day moving average is $50.23. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $73.97.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus increased their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday. Laidlaw boosted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird increased their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $98.86.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after purchasing an additional 1,107,166 shares during the last quarter. FMR LLC boosted its stake in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares in the last quarter. Nantahala Capital Management LLC grew its position in 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 acquiring an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC grew its position in Soleno Therapeutics by 15.8% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares during the last quarter. Finally, Vestal Point Capital LP raised its stake in Soleno Therapeutics by 47.2% during the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after acquiring an additional 340,000 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.