Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells $496,649.17 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Soleno Therapeutics Trading Down 3.7 %

SLNO opened at $44.52 on Thursday. The firm has a 50 day moving average of $50.62 and a two-hundred day moving average of $49.28. The firm has a market capitalization of $1.92 billion, a PE ratio of -13.41 and a beta of -1.47. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, analysts predict that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in Soleno Therapeutics during the second quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at about $155,000. Curi RMB Capital LLC purchased a new position in shares of Soleno Therapeutics in the 3rd quarter valued at about $202,000. Intech Investment Management LLC purchased a new position in shares of Soleno Therapeutics in the 3rd quarter valued at about $262,000. Finally, Fred Alger Management LLC purchased a new position in Soleno Therapeutics during the third quarter worth approximately $310,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SLNO shares. Oppenheimer raised their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and an average price target of $74.83.

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.