Soleno Therapeutics CEO sells $965,515 in inventory

Anish Bhatnagar, the Chief Govt Officer of Soleno Therapeutics Inc. (NASDAQ:SLNO), lately bought a good portion of the corporate’s inventory. In keeping with an SEC submitting, Bhatnagar bought a complete of 21,091 shares over two days, January 2 and January 3, 2025. The shares have been bought at costs starting from $45.3656 to $46.1764 per share, amounting to a complete transaction worth of roughly $965,515. With a present market capitalization of $1.98 billion and analysts setting worth targets between $67 and $93, InvestingPro evaluation signifies the inventory is presently overvalued relative to its Honest Worth.

The transactions have been executed in a number of trades, with the primary batch of 10,077 shares bought on January 2 at a weighted common worth of $45.3656. An extra 860 shares have been bought the identical day at a mean worth of $45.92. On January 3, Bhatnagar bought one other 10,154 shares at a mean worth of $46.1764. The inventory, which has proven robust worth momentum with a 23.55% return over the previous yr, maintains a wholesome monetary place with a present ratio of 17.26.

These gross sales have been made to cowl tax withholding obligations associated to the vesting of restricted inventory items. Following these transactions, Bhatnagar retains direct possession of 698,462 shares of Soleno Therapeutics. For deeper insights into insider buying and selling patterns and complete evaluation, entry the complete SLNO analysis report on InvestingPro, which affords unique monetary metrics and knowledgeable evaluation.

In different current information, Soleno Therapeutics has skilled important developments. The U.S. Meals and Drug Administration (FDA) has prolonged its evaluate interval for Soleno’s New Drug Software for DCCR, a therapy for Prader-Willi syndrome, with a brand new goal motion date set for March 27, 2025. Regardless of the delay, analysts from Baird, H.C. Wainwright, Oppenheimer, and Laidlaw stay optimistic about DCCR’s eventual approval and venture Soleno to start producing income by mid-2025.

Stifel has recognized Soleno Therapeutics as a prime choose for 2025, with the agency citing important upcoming catalysts that would drive the corporate’s inventory worth. The agency additionally anticipates that optimistic early-stage knowledge in 2025 will affect Eli Lilly (NYSE:LLY)’s resolution to opt-in, probably assuaging investor skepticism relating to the business alternative of PCSK9 editors.

Soleno Therapeutics has additionally entered into an settlement with Jefferies LLC to probably promote as much as $150 million of its frequent inventory and has awarded performance-based restricted inventory items to its workers. Moreover, the corporate’s Board of Administrators has seen adjustments with the appointment of Matthew Pauls as the brand new Lead Impartial (LON:IOG) Director and the addition of Daybreak Carter Bir. These are the current developments shaping the trajectory of Soleno Therapeutics.

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