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.

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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.