Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish Sells 58,213 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $2,664,409.01. Following the transaction, the chief executive officer now directly owns 925,321 shares of the company’s stock, valued at approximately $42,351,942.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 value of $799,894.24.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded down $2.77 on Wednesday, reaching $43.96. 349,169 shares of the company’s stock traded hands, compared to its average volume of 401,225. Soleno Therapeutics, Inc. has a 12 month low of $3.69 and a 12 month high of $53.82. The stock has a 50-day simple moving average of $44.46 and a 200 day simple moving average of $44.41. The stock has a market cap of $1.47 billion, a PE ratio of -17.44 and a beta of -1.39.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in shares of Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the last quarter. Aspiriant LLC purchased a new stake in Soleno Therapeutics in the fourth quarter worth $488,000. Cannon Global Investment Management LLC purchased a new stake in Soleno Therapeutics in the first quarter worth $505,000. Sei Investments Co. lifted its stake in Soleno Therapeutics by 22.0% in the first 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. Finally, SG Americas Securities LLC purchased a new stake in Soleno Therapeutics in the second quarter worth $569,000. Institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Oppenheimer reduced their target price on Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Baird R W raised Soleno Therapeutics to a “strong-buy” rating in a report on Friday, May 10th. Robert W. Baird assumed coverage on Soleno Therapeutics in a report on Friday, May 10th. They set an “outperform” rating and a $72.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $65.67.

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.