Yahoo Finance CEO Bhatnagar Anish Sells 18,980 Shares of Soleno Therapeutics Inc (SLNO)
Soleno Therapeutics Inc (NASDAQ:SLNO), a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. The company's lead candidate is a proprietary formulation of diazoxide choline controlled-release, a once-daily oral tablet for the treatment of Prader-Willi Syndrome, a rare genetic disorder characterized by insatiable appetite in children that often leads to obesity and type 2 diabetes.According to a recent SEC Filing, Bhatnagar Anish, the Chief Executive Officer of Soleno Therapeutics Inc, sold 18,980 shares of the company on April 1, 2024. The transaction was executed at an average price, resulting in a total value of the sold shares.Over the past year, Bhatnagar Anish has engaged in significant insider trading activity, selling a total of 196,136 shares and making no purchases of the company's stock. This latest transaction continues the trend of insider sales by Bhatnagar Anish.
The insider transaction history for Soleno Therapeutics Inc reveals a pattern of insider activity. In the past year, there have been 5 insider buys and 19 insider sells. This data suggests a predominance of selling activity among insiders over the period.On the valuation front, shares of Soleno Therapeutics Inc were trading at $41.34 on the day of the insider's recent sale. The company's market capitalization stood at $1.352 billion, reflecting the aggregate value of its outstanding shares.Investors and stakeholders in Soleno Therapeutics Inc often monitor insider transactions as they can provide insights into the company's performance and insider perspectives on the stock's value. While the reasons behind the insider's decision to sell shares are not disclosed, such transactions are required to be reported to the SEC and made public to ensure transparency in the financial markets.
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