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 stock in a transaction that occurred on 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 owns 719,553 shares in the company, valued at approximately $35,567,504.79. 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 Wednesday, August 28th, Bhatnagar Anish sold 56,613 shares of Soleno Therapeutics stock. The stock was sold at an average price of $47.58, for a total transaction 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 Trading Down 1.5 %

NASDAQ:SLNO traded down $0.73 during mid-day trading on Thursday, hitting $48.95. 248,573 shares of the company’s stock traded hands, compared to its average volume of 428,487. The firm has a 50 day moving average of $48.81 and a two-hundred day moving average of $45.01. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -18.54 and a beta of -1.46. Soleno Therapeutics, Inc. has a 12 month low of $21.30 and a 12 month high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.06. As a group, equities research analysts expect that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current year.

Institutional Trading of Soleno Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the second quarter valued at about $31,000. Victory Capital Management Inc. increased its stake in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after acquiring an additional 2,236 shares during the period. Cannon Global Investment Management LLC bought a new position in Soleno Therapeutics during the first quarter valued at about $505,000. Sei Investments Co. raised its holdings in Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after acquiring an additional 2,264 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after acquiring an additional 3,481 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLNO has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Oppenheimer increased their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Stifel Nicolaus boosted their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, HC Wainwright initiated coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 target price for the company. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $68.71.

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.