Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells 10,937 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $46.22 on Wednesday. The business’s 50 day moving average price is $51.05 and its 200 day moving average price is $49.28. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -13.92 and a beta of -1.47. Soleno Therapeutics, Inc. has a one year low of $36.20 and a one year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, analysts predict that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.

Analyst Ratings Changes

SLNO has been the subject of several recent analyst reports. 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. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer boosted their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Robert W. Baird reissued an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $74.83.

Institutional Trading of Soleno Therapeutics

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in Soleno Therapeutics during the second quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Soleno Therapeutics during the 3rd quarter worth $155,000. Curi RMB Capital LLC acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $202,000. Intech Investment Management LLC purchased a new stake in Soleno Therapeutics in the 3rd quarter valued at about $262,000. Finally, Fred Alger Management LLC acquired a new position in Soleno Therapeutics in the third quarter valued at about $310,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.