Insider Selling: Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells 10,937 Shares of Stock

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

Soleno Therapeutics Price Performance

NASDAQ SLNO traded down $0.56 during trading hours on Monday, hitting $45.90. 278,526 shares of the company’s stock traded hands, compared to its average volume of 445,542. The company has a market capitalization of $1.98 billion, a PE ratio of -13.83 and a beta of -1.47. Soleno Therapeutics, Inc. has a 52-week low of $36.20 and a 52-week high of $60.92. The firm’s 50-day moving average is $51.24 and its 200-day moving average is $49.24.

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

Analyst Ratings Changes

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

Institutional Trading of Soleno Therapeutics

Several large investors have recently added to or reduced their stakes in SLNO. Janus Henderson Group PLC raised its holdings in shares of Soleno Therapeutics by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after acquiring an additional 722,226 shares during the period. Nantahala Capital Management LLC raised its stake in Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after purchasing an additional 671,728 shares during the period. FMR LLC boosted its holdings in Soleno Therapeutics by 6,048,754.5% in the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Soleno Therapeutics in the 3rd quarter valued at approximately $25,028,000. Finally, Avoro Capital Advisors LLC increased its holdings in shares of Soleno Therapeutics by 28.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock worth $85,340,000 after buying an additional 466,666 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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.