Soleno Therapeutics Inc (NASDAQ:SLNO) Major Shareholder Purchases $12,480.00 in Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Jack W. Schuler acquired 6,000 shares of the business’s stock in a transaction on Sunday, April 12th. The stock was acquired at an average cost of $2.08 per share, with a total value of $12,480.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:SLNO opened at $1.84 on Monday. The firm has a 50 day moving average of $2.99 and a 200-day moving average of $2.80. The stock has a market capitalization of $82.27 million, a PE ratio of -2.39 and a beta of 0.57. Soleno Therapeutics Inc has a 12 month low of $1.18 and a 12 month high of $4.39.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. On average, sell-side analysts forecast that Soleno Therapeutics Inc will post -0.59 EPS for the current fiscal year.

A number of research firms have issued reports on SLNO. Laidlaw reissued a “buy” rating and issued a $10.00 price objective on shares of Soleno Therapeutics in a report 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 price objective for the company in a report on Friday, June 12th. Finally, ValuEngine raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Soleno Therapeutics has an average rating of “Buy” and an average target price of $7.56.

Several large investors have recently modified their holdings of SLNO. AE Wealth Management LLC acquired a new position in Soleno Therapeutics during the 1st quarter worth approximately $25,000. BlackRock Inc. increased its position in Soleno Therapeutics by 25.2% during the 1st quarter. BlackRock Inc. now owns 85,745 shares of the company’s stock worth $205,000 after purchasing an additional 17,281 shares in the last quarter. Geode Capital Management LLC increased its position in Soleno Therapeutics by 62.1% during the 4th quarter. Geode Capital Management LLC now owns 56,899 shares of the company’s stock worth $167,000 after purchasing an additional 21,802 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Soleno Therapeutics during the 1st quarter worth approximately $98,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in Soleno Therapeutics during the 4th quarter worth approximately $134,000. Institutional investors own 46.44% of the company’s stock.

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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