Insider Buying: Soleno Therapeutics Inc (NASDAQ:SLNO) Major Shareholder Buys $21,527.82 in Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Jack W. Schuler bought 10,818 shares of Soleno Therapeutics stock in a transaction on Wednesday, April 22nd. The shares were purchased at an average cost of $1.99 per share, for a total transaction of $21,527.82. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of SLNO stock opened at $1.84 on Monday. The stock has a market capitalization of $82.27 million, a P/E ratio of -2.39 and a beta of 0.57. The company has a 50 day moving average price of $2.99 and a 200 day moving average price of $2.80. Soleno Therapeutics Inc has a fifty-two week low of $1.18 and a fifty-two week high of $4.39.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Equities analysts forecast that Soleno Therapeutics Inc will post -0.59 earnings per share for the current fiscal year.

SLNO has been the topic of a number of analyst reports. Laidlaw reaffirmed a “buy” rating and set a $10.00 target price on shares of Soleno Therapeutics in a research note on Friday, June 5th. Zacks Investment Research raised shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.25 target price on the stock in a research note on Friday, June 12th. Finally, ValuEngine upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $7.56.

A number of hedge funds have recently bought and sold shares of the business. AE Wealth Management LLC bought a new stake in shares of Soleno Therapeutics during the first quarter valued at about $25,000. BlackRock Inc. grew its holdings in Soleno Therapeutics by 25.2% during the first quarter. BlackRock Inc. now owns 85,745 shares of the company’s stock worth $205,000 after acquiring an additional 17,281 shares during the period. Geode Capital Management LLC grew its holdings in Soleno Therapeutics by 62.1% during the fourth quarter. Geode Capital Management LLC now owns 56,899 shares of the company’s stock worth $167,000 after acquiring an additional 21,802 shares during the period. Squarepoint Ops LLC purchased a new position in Soleno Therapeutics in the 1st quarter worth about $98,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Soleno Therapeutics in the 4th quarter worth about $134,000. Institutional investors own 46.44% of the company’s stock.

Soleno Therapeutics Company Profile

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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Insider Buying and Selling by Quarter for Soleno Therapeutics (NASDAQ:SLNO)

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