Bhatnagar Anish Sells 10,937 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the sale, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Soleno Therapeutics Price Performance

SLNO stock opened at $46.22 on Wednesday. The firm’s fifty day simple moving average is $51.05 and its 200-day simple moving average is $49.28. Soleno Therapeutics, Inc. has a 12 month low of $36.20 and a 12 month high of $60.92. The company has a market capitalization of $1.99 billion, a P/E ratio of -13.92 and a beta of -1.47.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SLNO. Amalgamated Bank purchased a new stake in Soleno Therapeutics in the 2nd quarter worth approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Soleno Therapeutics in the 3rd quarter valued at $155,000. Curi RMB Capital LLC purchased a new stake in Soleno Therapeutics during the third quarter worth $202,000. Intech Investment Management LLC purchased a new stake in Soleno Therapeutics during the third quarter worth $262,000. Finally, Fred Alger Management LLC acquired a new stake in Soleno Therapeutics during the third quarter valued at $310,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLNO. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer boosted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average 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.