Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Bhatnagar Anish Sells 699,095 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now owns 577,076 shares in the company, valued at $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Stock Down 6.5 %

Shares of SLNO traded down $4.68 during mid-day trading on Friday, hitting $67.48. 1,270,316 shares of the company's stock traded hands, compared to its average volume of 670,666. The firm has a market capitalization of $3.09 billion, a P/E ratio of -20.33 and a beta of -2.29. The business's 50-day moving average price is $51.19 and its 200-day moving average price is $50.75. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). Sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new stake in Soleno Therapeutics during the third quarter worth about $262,000. Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 208.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company's stock valued at $9,724,000 after acquiring an additional 130,080 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Soleno Therapeutics by 6.5% during the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company's stock valued at $2,657,000 after acquiring an additional 3,226 shares in the last quarter. FMR LLC raised 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 worth $33,595,000 after acquiring an additional 665,363 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Soleno Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,772 shares of the company's stock valued at $645,000 after acquiring an additional 7,196 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SLNO shares. UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a research report on Thursday, March 27th. HC Wainwright increased their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the company a "buy" rating in a report on Monday. Robert W. Baird lifted 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. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $99.63.

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.