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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish sold 10,937 shares of the company’s 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 sale, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Soleno Therapeutics Stock Down 1.2 %

Shares of NASDAQ SLNO opened at $45.90 on Tuesday. Soleno Therapeutics, Inc. has a 52-week low of $36.20 and a 52-week high of $60.92. The business has a 50-day moving average price of $51.24 and a 200 day moving average price of $49.24. The stock has a market cap of $1.98 billion, a PE ratio of -13.83 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently added to or reduced their stakes in SLNO. Janus Henderson Group PLC increased its holdings in shares of Soleno Therapeutics by 21.5% in the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock valued at $206,016,000 after purchasing an additional 722,226 shares during the period. Perceptive Advisors LLC raised its position in Soleno Therapeutics by 4.2% during the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after buying an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC lifted its stake 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 worth $125,750,000 after acquiring an additional 671,728 shares during the period. Avoro Capital Advisors LLC lifted its stake in shares of Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock worth $85,340,000 after acquiring an additional 466,666 shares during the period. Finally, State Street Corp boosted its holdings in shares of Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after acquiring an additional 142,033 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

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