Bhatnagar Anish sells 56,613 shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Your Free Report ) CEO Bhatnagar Anish sold 56,613 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the transaction, the chief executive officer now directly owns 799,577 shares of the company’s stock, valued at approximately $38,043,873.66. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink.

Bhatnagar Anish also recently made the following trades:

• On Monday, August 5th, Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock. The shares were sold at an average price of $45.77, for a total transaction of $2,664,409.01.
• On Monday, July 1st, Bhatnagar Anish sold 19,256 shares of Soleno Therapeutics stock. The shares were sold at an average price of $41.54, for a total transaction of $799,894.24.

Soleno Therapeutics stock rose 5.1%

Shares of NASDAQ:SLNO opened at $48.95 on Friday. Soleno Therapeutics, Inc. has a 52-week low of $3.69 and a 52-week high of $53.82. The company has a 50 day moving average of $46.13 and a two hundred day moving average of $44.54. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -18.26 and a beta of -1.39.

Soleno Therapeutics (NASDAQ:SLNO – Get Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.06. On average, equities analysts anticipate that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current year.

Analyst upgrades and downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird assumed 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 boosted their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Baird RW raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research report on Wednesday, July 31st. Six research 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 company currently has a consensus rating of “Buy” and a consensus price target of $66.67.

Read our latest analysis of Soleno Therapeutics

Institutional Trading of Soleno Therapeutics

Several large investors have recently bought and sold shares of SLNO. Vivo Capital LLC boosted its stake in Soleno Therapeutics by 162.8% in the 4th quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after buying an additional 5,215,000 shares during the last quarter. Vestal Point Capital LP purchased a new position in shares of Soleno Therapeutics in the 4th quarter valued at approximately $52,325,000. Carlyle Group Inc. raised its stake in shares of Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after buying an additional 1,213,758 shares in the last quarter. Avoro Capital Advisors LLC boosted its stake in Soleno Therapeutics by 107.0% in the first quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock valued at $69,550,000 after buying an additional 840,000 shares in the last quarter. Finally, Assenagon Asset Management SA purchased a new position in shares of Soleno Therapeutics in the 2nd quarter valued at approximately $29,778,000. Institutional investors and hedge funds own 97.42% of the company’s shares.

Soleno Therapeutics Company Profile

(Get a free report)

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapies for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet that is in phase III clinical trials for the treatment of Prader-Willi syndrome.

Further reading

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