Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish Sells 19,256 Shares

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

Soleno Therapeutics Trading Up 5.8 %

Shares of NASDAQ:SLNO opened at $42.03 on Thursday. Soleno Therapeutics, Inc. has a 52 week low of $3.69 and a 52 week high of $53.82. The firm’s fifty day moving average is $43.34 and its 200-day moving average is $43.31.

Soleno Therapeutics (NASDAQ:SLNO) last announced 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, equities analysts expect that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank bought a new stake in Soleno Therapeutics in the fourth quarter valued at $918,000. Wellington Management Group LLP bought a new position in Soleno Therapeutics in the fourth quarter worth approximately $8,557,000. Vivo Capital LLC grew its stake in Soleno Therapeutics by 162.8% in the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after acquiring an additional 5,215,000 shares during the period. Carlyle Group Inc. increased its holdings in shares of Soleno Therapeutics by 24.6% during the fourth quarter. Carlyle Group Inc. now owns 2,857,804 shares of the company’s stock valued at $115,039,000 after acquiring an additional 564,242 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Soleno Therapeutics during the third quarter worth approximately $1,365,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Oppenheimer decreased their price target on Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Robert W. Baird started coverage on Soleno Therapeutics in a research report on Friday, May 10th. They issued an “outperform” rating and a $72.00 target price on the stock. Finally, Baird R W raised shares of Soleno Therapeutics to a “strong-buy” rating in a 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 stock. According to data from MarketBeat.com, Soleno Therapeutics has a consensus 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.