Bhatnagar Anish Sells 19,256 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNOGet Free Report) CEO Bhatnagar Anish sold 19,256 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $799,894.24. Following the transaction, the chief executive officer now owns 133,534 shares of the company’s stock, valued at $5,547,002.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Soleno Therapeutics Stock Up 5.8 %

SLNO stock opened at $42.03 on Friday. The stock has a market capitalization of $1.40 billion, a P/E ratio of -15.68 and a beta of -1.40. The firm has a 50-day simple moving average of $43.44 and a 200-day simple moving average of $43.30. Soleno Therapeutics, Inc. has a 52 week low of $3.69 and a 52 week high of $53.82.

Soleno Therapeutics (NASDAQ:SLNOGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). On average, analysts expect that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current year.

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Swiss National Bank purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $918,000. Wellington Management Group LLP purchased a new stake in Soleno Therapeutics during the 4th quarter valued at about $8,557,000. Vivo Capital LLC grew its stake in Soleno Therapeutics by 162.8% during the 4th quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after acquiring an additional 5,215,000 shares in the last quarter. Carlyle Group Inc. grew its stake in Soleno Therapeutics by 24.6% during the 4th quarter. Carlyle Group Inc. now owns 2,857,804 shares of the company’s stock valued at $115,039,000 after acquiring an additional 564,242 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in Soleno Therapeutics during the 3rd quarter valued at about $1,365,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Robert W. Baird started coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $72.00 target price for the company. Baird R W raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Friday, May 10th. Finally, Oppenheimer cut their price objective on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $60.33.

Read Our Latest Report on SLNO

About Soleno Therapeutics

(Get Free Report)

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.

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