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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Bhatnagar Anish also recently made the following trade(s):

• On Thursday, January 2nd, Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17.

Soleno Therapeutics Trading Down 4.5 %

Soleno Therapeutics stock opened at $68.26 on Wednesday. The company has a fifty day simple moving average of $49.82 and a 200-day simple moving average of $50.34. The stock has a market cap of $3.13 billion, a P/E ratio of -20.56 and a beta of -1.70. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $73.97.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in shares of Soleno Therapeutics by 14.5% in the 4th quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock valued at $35,163,000 after buying an additional 99,095 shares in the last quarter. California State Teachers Retirement System lifted its position in Soleno Therapeutics by 23.6% in the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company’s stock valued at $988,000 after acquiring an additional 4,201 shares during the last quarter. Polar Asset Management Partners Inc. boosted its stake in Soleno Therapeutics by 296.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after acquiring an additional 93,800 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Soleno Therapeutics during the fourth quarter worth about $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Soleno Therapeutics by 24.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock worth $1,236,000 after purchasing an additional 5,462 shares in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, March 27th. Guggenheim reissued a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Stifel Nicolaus raised 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, March 28th. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Cantor Fitzgerald lifted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $98.86.

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.