Soleno Therapeutics Inc (NASDAQ:SLNO) Major Shareholder Acquires $23,497.87 in Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Jack W. Schuler purchased 11,243 shares of the company’s stock in a transaction on Sunday, March 29th. The shares were bought at an average price of $2.09 per share, with a total value of $23,497.87. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping 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.

A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Laidlaw restated a “buy” rating and issued a $10.00 price objective on shares of Soleno Therapeutics in a report on Friday, June 5th. Finally, Zacks Investment Research upgraded shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.25 price objective for the company in a report on Friday, June 12th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $7.56.

Institutional investors have recently modified their holdings of the stock. AE Wealth Management LLC purchased a new position in Soleno Therapeutics in the first quarter worth approximately $25,000. Squarepoint Ops LLC purchased a new position in Soleno Therapeutics in the first quarter worth approximately $98,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in Soleno Therapeutics in the fourth quarter worth approximately $134,000. Oppenheimer & Co. Inc. purchased a new position in Soleno Therapeutics in the first quarter worth approximately $144,000. Finally, Geode Capital Management LLC lifted its stake in Soleno Therapeutics by 62.1% in 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 last quarter. 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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