Bhatnagar Anish Sells 21,633 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction dated 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 transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at $35,567,504.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, August 28th, Bhatnagar Anish sold 56,613 shares of Soleno Therapeutics stock. The shares were sold at an average price of $47.58, for a total transaction of $2,693,646.54.
• On Monday, August 5th, Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock. The stock was sold at an average price of $45.77, for a total transaction of $2,664,409.01.

Soleno Therapeutics Stock Down 1.5 %

Shares of SLNO traded down $0.73 during mid-day trading on Thursday, reaching $48.95. The company’s stock had a trading volume of 248,573 shares, compared to its average volume of 428,487. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -18.54 and a beta of -1.46. The business has a fifty day moving average of $48.81 and a 200 day moving average of $45.01. Soleno Therapeutics, Inc. has a 1 year low of $21.30 and a 1 year high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. On average, analysts predict that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current year.

Institutional Trading of Soleno Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in Soleno Therapeutics during the fourth quarter valued at approximately $8,557,000. Rafferty Asset Management LLC acquired a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $2,088,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Soleno Therapeutics during the 1st quarter valued at $4,444,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Soleno Therapeutics during the 1st quarter valued at $6,533,000. Finally, Sofinnova Investments Inc. increased its stake in shares of Soleno Therapeutics by 267.7% in the second quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after acquiring an additional 403,584 shares during the last quarter. 97.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SLNO shares. Oppenheimer raised their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday, September 20th. HC Wainwright began coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.