Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells 21,633 Shares of 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 directly owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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 value 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 Stock Performance

Shares of SLNO opened at $49.63 on Friday. The business’s fifty day moving average price is $48.87 and its two-hundred day moving average price is $45.08. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -18.52 and a beta of -1.45. Soleno Therapeutics, Inc. has a 52 week low of $21.30 and a 52 week high of $55.56.

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

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vestal Point Capital LP acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth about $52,325,000. Carlyle Group Inc. grew its holdings in Soleno Therapeutics by 42.5% during the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after purchasing an additional 1,213,758 shares during the period. Avoro Capital Advisors LLC raised its holdings in Soleno Therapeutics by 107.0% in the first quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock worth $69,550,000 after purchasing an additional 840,000 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Soleno Therapeutics during the second quarter worth $29,778,000. Finally, Nantahala Capital Management LLC grew its holdings in shares of Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after buying an additional 671,728 shares during the period. Institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SLNO. Oppenheimer lifted their price target on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Stifel Nicolaus lifted their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, HC Wainwright began coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently 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.