Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells 699,095 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now owns 577,076 shares of the company’s stock, valued at $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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 value of $496,649.17.

Soleno Therapeutics Trading Down 0.8 %

Shares of Soleno Therapeutics stock opened at $71.45 on Tuesday. The business has a 50-day moving average price of $49.44 and a two-hundred day moving average price of $50.23. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $73.97. The company has a market cap of $3.28 billion, a P/E ratio of -21.52 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. AlphaQuest LLC increased its stake in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the 4th quarter valued at about $34,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics in the 4th quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the 4th quarter worth approximately $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics in the fourth quarter worth approximately $89,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SLNO shares. Guggenheim reaffirmed a “buy” rating and issued a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday. Cantor Fitzgerald upped their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Stifel Nicolaus raised their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Laidlaw boosted their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird raised their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $98.86.

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.