SLNO SOLENO THERAPEUTICS INC Insider Trading

Officer Yen Kristen sold 95,500 shares ($6.4M) in 10 transactions on 2025-03-27, reducing stake by 77.2% to 28,143 shares.

Yen Kristen executed 10 separate sales totaling 95,500 shares for $6,376,788.68 at prices ranging from $65.97 to $72.64, a blended average of $66.77. This represents a 77.2% reduction in holdings over a single day, leaving only 28,143 shares post-transaction. The timing coincides with the stock trading near its 52-week high of $71.99 (current price $71.45 is -0.8% from that peak) and follows a dramatic 30-day surge of +46.4% and 90-day gain of +59.0%. Despite the company's strong revenue growth of +138.8% year-over-year, SOLENO Therapeutics remains deeply unprofitable with a net loss of $-76,616,000 in its most recent full fiscal year, and the latest quarter shows minimal revenue of $1,000.00. The substantial divestiture at elevated prices during a period of strong momentum warrants close attention to whether the insider's view on the risk-reward profile has shifted.

CFO James H Mackaness sold 90,622 shares for $6,293,177.04 across 11 transactions on 2025-03-27, reducing holdings by 46.3%.

James H Mackaness, Chief Financial Officer of Soleno Therapeutics, executed 11 separate sales totaling 90,622 shares for $6,293,177.04 on March 27, 2025, with prices ranging from $65.97 to $72.64 and a blended average of $69.44. This sale reduced his holdings from 195,798 shares to 105,176 shares, a -46.3% reduction in his stake. The company is trading at $71.45, near its 52-week high of $71.99, and has experienced significant recent momentum (+46.4% over 30 days, +59.0% over 90 days). However, Soleno remains unprofitable with a net loss of $-76,616,000.00 in its most recent fiscal year, despite 138.8% annual revenue growth. Across his five prior sales at SLNO, none were well-timed at the 90-day mark—the stock consistently rose after each sale, with 90-day returns ranging from +16.7% to +24.1%—suggesting a pattern where this CFO's equity dispositions have consistently preceded further appreciation rather than preceding declines.

CEO Anish Bhatnagar sells 699,095 shares for $47,271,960.09 across 12 transactions on 2025-03-27, reducing holdings by 54.8%

Anish Bhatnagar, Chief Executive Officer of Soleno Therapeutics, executed a substantial liquidation of 699,095 shares (699.1K shares) across 12 separate transactions on 2025-03-27, generating $47,271,960.09 at a blended average price of $67.62, and reducing his post-transaction holdings to 577,076 shares (577.1K shares)—a 54.8% reduction of his pre-transaction stake. The sale occurred near the stock's 52-week high of $71.99 (current price $71.45 is -0.8% from peak), with the stock up 46.4% over 30 days and 59.0% over 90 days, indicating a period of significant appreciation preceding the sale. The CEO's prior trades at SLNO show 2 of 2 measurable sales were well-timed at the 90-day mark (both posted negative 90-day returns of -8.2% and -9.8%), suggesting a pattern of selling ahead of declines at this ticker. The company remains unprofitable (net income $-76,616,000.00 for the latest full fiscal year) despite strong revenue growth of 138.8%, creating a fundamental tension between near-term momentum and long-term cash burn.

Patricia C Hirano sold 156,315 shares for $10.7M across 16 transactions, reducing holdings by 83.5%

Patricia C Hirano executed 16 separate sales totaling 156,315 shares for $10,709,353.02 across March 27–28, 2025, at a blended average price of $68.51. This represents a substantial reduction in holdings from 187,133 shares to 30,818 shares (a net change of -83.5% vs pre-transaction holdings), indicating a near-complete exit from a large position. The company is unprofitable with a net income of $-76,616,000.00, and the stock has risen 46.4% over the past 30 days and 59.0% over the past 90 days, bringing the current price to $71.45, which is -0.8% from its 52-week high of $71.99. The timing and scale of this disposition—occurring near the stock's all-time highs and amid strong recent momentum—coincides with the company's continued unprofitability despite 138.8% annual revenue growth.

Sr. VP Michael F. Huang sells 14,583 shares at blended avg $69.51 for $1.0M, reducing stake by 28.4%

Michael F. Huang, Sr. VP of Clinical Development, executed 9 separate sales totaling 14,583 shares for $1,013,627.06 on 2025-03-27, reducing his holdings from 51,400 to 36,817 shares. The sales were conducted at prices ranging from $65.97 to $72.64, with a blended average of $69.51, near the current price of $71.45 and close to the 52-week high of $71.99. This represents a substantial 28.4% reduction in his stake. The transaction occurs in the context of SLNO's stock having risen 46.4% over 30 days and 59.0% over 90 days, while the company remains unprofitable with a net income of $-76,616,000.00 for the most recent full fiscal year. The magnitude and scope of this sale warrants investor attention given the executive's senior role in clinical development and the timing relative to recent significant price appreciation.

CCO Manning Meredith sells 45,249 shares (49.9% of holdings) for $3.0M at $67.28 blended average

Manning Meredith, Chief Commercial Officer, executed 9 separate sales on 2025-03-27 totaling 45,249 shares for $3,044,342.88, reducing his holdings from 90,600 shares to 45,351 shares. The transaction occurred near the 52-week high ($71.45 current price is -0.8% from the $71.99 peak), following a sharp 30-day rally of +46.4% and 90-day appreciation of +59.0%. The company reported negative net income of $-76,616,000.00 for its most recent fiscal year despite strong revenue growth of +138.8%, indicating continued unprofitability at scale. The disproportionate sale of roughly half his stake against a backdrop of recent price acceleration and ongoing losses warrants examination of whether this represents opportunistic liquidation during elevated valuations or a broader shift in the executive's position.

10% owner Vivo Opportunity LLC sold 1,833,557 shares (1.83M) for $124,449,124.20 across 3 trades (Mar 26–28), blended avg $67.87, reducing stake by 29.1%.

Vivo Opportunity, LLC executed three separate sales totaling 1,833,557 shares for $124,449,124.20 on March 26–28, reducing its stake from 6,291,851 shares to 4,458,294 shares (-29.1%). The blended average price of $67.87 sits below the current price of $71.99, and the stock has risen +59.6% over the past 30 days and +60.6% over 90 days—both periods encompassing recent strong upward momentum. Historically at SLNO, this insider's prior five trades (Aug 28–29 and Apr 29–30, 2024) all posted positive 90-day returns (+0.1% to +23.2%), with 0 of 5 sales being well-timed on a 90-day basis, indicating the stock tended to rise after prior sales. The company reports negative net income of $-76,616,000.00 for the latest period and is unprofitable on a full-year basis, despite annual revenue growth of +138.8%, which may merit scrutiny regarding the rapid recent price appreciation. The sale's magnitude ($124.4M notional value) and the concentration of three trades within 48 hours warrant attention to the insider's repositioning rationale.

Soleno CEO Anish Bhatnagar sells 21.1K shares (21,091) for $965,515.52 across 3 transactions at blended avg $45.78.

Anish Bhatnagar, the company's Chief Executive Officer, executed 3 separate sales totaling 21,091 shares for $965,515.52 on 2025-01-02 and 2025-01-03, reducing his holdings by 2.9% to 698,462 shares. The sales occurred at prices ($45.37, $45.92, $46.18) that are currently above the current market price of $45.90, though the stock is down 6.6% over 30 days and down 11.7% over 90 days from the transaction date. His prior trades at Soleno show mixed timing: of 5 prior sells at this ticker, only 2 were well-timed (negative 90-day returns), indicating roughly 40% accuracy at this specific company, which differs materially from his cross-ticker track record of 20.00% well-timed rate across 20 prior sells. The company remains unprofitable (net income $-76,616,000.00 for the latest full year) despite strong revenue growth of 138.8%, which contextualizes the transaction against underlying operational losses.

CEO Anish Bhatnagar sells 21,633 shares at blended avg $49.43 for $1.1M at unprofitable biotech with 138.8% revenue growth

Anish Bhatnagar, CEO of SOLENO THERAPEUTICS INC (SLNO), executed 2 separate sales totaling 21,633 shares for $1,069,306.23 on 2024-10-01, reducing his holdings by 2.9%. The company is unprofitable with a net income of $-21,854,000.00 over its most recent full fiscal year, though it reported annual revenue growth of 138.8%. His prior trades at SLNO (5 sales since 2024-08-06) have shown 30-day returns between 2.3% and 10.3%, with no measurable 90-day outcomes yet available. The current stock price of $48.95 is 8.6% below the 52-week high of $53.55, following a 3.6% 30-day gain and 19.6% 90-day gain. The filing presents a material position reduction by the CEO during a period of strong recent price appreciation, warranting monitoring of near-term price behavior and any forward guidance updates.

CEO Anish Bhatnagar sold 115,004 shares for $5.5M across 4 trades (Aug 28-29); stock near 52-week high at $48.95.

Anish Bhatnagar, Chief Executive Officer of Soleno Therapeutics, executed 4 separate sales totaling 115,004 shares for $5,454,707.26 at a blended average price of $47.43, reducing his holdings by 13.4% to 741,186 shares. The timing is noteworthy: the stock is currently trading at $48.95, only 6.5% below its 52-week high of $52.35, and the company is unprofitable with a net income of $-21,854,000 over its most recent full fiscal year. Across his open-market history at all tickers, Bhatnagar's prior sells have shown a 90-day well-timed rate of 20.00% (average 90-day return after selling was +50.0%, indicating poorly-timed sales overall). At this specific ticker, his 5 prior trades are all very recent (August 5–6) with outcomes not yet measurable. The scale and timing of this sale—moving a substantial block near the 52-week high in a therapeutics firm burning cash—deserves investor scrutiny of the underlying business drivers and any concurrent corporate developments.