Insider Buying: Soleno Therapeutics Inc (NASDAQ:SLNO) Major Shareholder Acquires $20,900.00 in Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Jack W. Schuler purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 3rd. The shares were purchased at an average price of $2.09 per share, for a total transaction of $20,900.00. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

SLNO opened at $1.84 on Monday. The company has a market cap of $82.27 million, a price-to-earnings ratio of -2.39 and a beta of 0.57. Soleno Therapeutics Inc has a 52-week low of $1.18 and a 52-week high of $4.39. The firm’s fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $2.80.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. As a group, sell-side analysts expect that Soleno Therapeutics Inc will post -0.59 earnings per share for the current fiscal year.

Several research firms recently commented on SLNO. ValuEngine upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Zacks Investment Research upgraded shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.25 price target on the stock in a research report on Friday, June 12th. Finally, Laidlaw restated a “buy” rating and set a $10.00 price target on shares of Soleno Therapeutics in a research report on Friday, June 5th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $7.56.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vivo Capital LLC purchased a new position in shares of Soleno Therapeutics in the first quarter worth about $4,811,000. Squarepoint Ops LLC purchased a new position in shares of Soleno Therapeutics in the first quarter worth about $98,000. Geode Capital Management LLC lifted its stake in shares of Soleno Therapeutics by 146.3% in the first quarter. Geode Capital Management LLC now owns 140,165 shares of the company’s stock worth $333,000 after buying an additional 83,266 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Soleno Therapeutics in the first quarter worth about $144,000. Finally, AE Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the first quarter worth about $25,000. 46.44% of the stock is currently owned by institutional investors and hedge funds.

About Soleno Therapeutics

Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is diazoxide choline controlled-release, a tablet that is in Phase III clinical trial for the treatment of Prader-Willi Syndrome. The company was formerly known as Capnia, Inc and changed its name to Soleno Therapeutics, Inc in May 2017.

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