Soleno Therapeutics, Inc. (NASDAQ:SLNO) CEO Sells $799,894.24 in Stock

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

Soleno Therapeutics Trading Down 2.7 %

Shares of SLNO stock opened at $40.91 on Friday. The firm’s 50 day moving average is $43.50 and its 200 day moving average is $43.32. The stock has a market capitalization of $1.37 billion, a P/E ratio of -15.26 and a beta of -1.40. Soleno Therapeutics, Inc. has a 12 month low of $3.69 and a 12 month high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly 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, equities analysts predict that Soleno Therapeutics, Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLNO. 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 price target for the company. Oppenheimer decreased their price target on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Finally, Baird R W upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Friday, May 10th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $60.33.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SLNO. Cannon Global Investment Management LLC purchased a new stake in shares of Soleno Therapeutics in the first quarter worth about $505,000. Aspiriant LLC purchased a new stake in Soleno Therapeutics in the 4th quarter worth approximately $488,000. Sei Investments Co. lifted its stake in Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after purchasing an additional 3,481 shares during the period. Finally, Swiss National Bank purchased a new position in shares of Soleno Therapeutics during the 4th quarter valued at $918,000. 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.