Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells $47,272,803.90 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the sale, the chief executive officer now owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their position. 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 Thursday, January 2nd, Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17.

Soleno Therapeutics Trading Down 4.5 %

SLNO stock opened at $68.26 on Wednesday. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $73.97. The company has a market cap of $3.13 billion, a P/E ratio of -20.56 and a beta of -1.70. The company’s 50-day moving average price is $49.82 and its 200 day moving average price is $50.34.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

SLNO has been the topic of several recent research reports. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Robert W. Baird upped their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Stifel Nicolaus lifted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Guggenheim restated a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research report on Friday. Finally, HC Wainwright boosted their price target on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $98.86.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLNO. AlphaQuest LLC raised its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $34,000. Avanza Fonder AB acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics in the 4th quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC acquired a new stake in Soleno Therapeutics during the 4th quarter valued at $89,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.