Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish Sells 56,613 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 56,613 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total value of $2,693,646.54. Following the transaction, the chief executive officer now owns 799,577 shares of the company’s stock, valued at $38,043,873.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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.
• On Monday, July 1st, Bhatnagar Anish sold 19,256 shares of Soleno Therapeutics stock. The shares were sold at an average price of $41.54, for a total transaction of $799,894.24.

Soleno Therapeutics Stock Up 5.1 %

SLNO traded up $2.39 during mid-day trading on Friday, reaching $48.95. 475,543 shares of the company traded hands, compared to its average volume of 423,476. The company’s fifty day moving average price is $46.13 and its 200-day moving average price is $44.55. The stock has a market capitalization of $1.64 billion, a P/E ratio of -18.26 and a beta of -1.39. Soleno Therapeutics, Inc. has a 52-week low of $3.69 and a 52-week high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. As a group, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vivo Capital LLC grew its position in Soleno Therapeutics by 162.8% during the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after buying an additional 5,215,000 shares during the period. Carlyle Group Inc. grew its position in shares of Soleno Therapeutics by 42.5% during the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after acquiring an additional 1,213,758 shares during the period. Perceptive Advisors LLC increased its stake in shares of Soleno Therapeutics by 4.2% in the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after purchasing an additional 130,434 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after purchasing an additional 671,728 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Soleno Therapeutics by 13.7% during the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after purchasing an additional 346,914 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SLNO. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Baird R W upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Friday, May 10th. Oppenheimer lifted their target price on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, Robert W. Baird began coverage on Soleno Therapeutics in a report on Friday, May 10th. They set an “outperform” rating and a $72.00 price target on the stock. Six investment 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, Soleno Therapeutics has a consensus rating of “Buy” and a consensus price target of $66.67.

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.