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 stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Soleno Therapeutics Stock Down 1.2 %

Soleno Therapeutics stock traded down $0.56 during mid-day trading on Monday, reaching $45.90. 278,526 shares of the company’s stock were exchanged, compared to its average volume of 445,542. The company has a fifty day moving average of $51.24 and a 200-day moving average of $49.24. The company has a market cap of $1.98 billion, a P/E ratio of -13.83 and a beta of -1.47. Soleno Therapeutics, Inc. has a twelve month low of $36.20 and a twelve month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last released its 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 expect that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 21.5% during the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after buying an additional 722,226 shares during the period. Nantahala Capital Management LLC increased its position in shares of Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after purchasing an additional 671,728 shares during the last quarter. FMR LLC raised its holdings in shares of 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 in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth $25,028,000. Finally, Avoro Capital Advisors LLC lifted its position 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 purchasing an additional 466,666 shares during the last quarter. Hedge funds and other institutional investors 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.