Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells $799,894.24 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 19,256 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $799,894.24. Following the transaction, the chief executive officer now owns 133,534 shares of the company’s stock, valued at $5,547,002.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Soleno Therapeutics Price Performance

SLNO traded up $2.30 on Wednesday, hitting $42.03. 207,966 shares of the company’s stock were exchanged, compared to its average volume of 409,700. The stock has a fifty day moving average of $43.29 and a two-hundred day moving average of $43.32. Soleno Therapeutics, Inc. has a twelve month low of $3.69 and a twelve month high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.29). As a group, sell-side analysts expect that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Aspiriant LLC acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $488,000. Cannon Global Investment Management LLC bought a new stake in Soleno Therapeutics during the 1st quarter valued at $505,000. Sei Investments Co. boosted its position in Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after acquiring an additional 2,264 shares during the period. California State Teachers Retirement System grew its stake in shares of Soleno Therapeutics by 33.8% in the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Soleno Therapeutics during the third quarter valued at $685,000. Institutional investors own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLNO. Oppenheimer reduced their price target on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Robert W. Baird began coverage on Soleno Therapeutics in a report on Friday, May 10th. They set an “outperform” rating and a $72.00 target price on the stock. Finally, Baird R W upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $60.33.

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.