Insider Buying: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Major Shareholder Acquires $139,776.00 in Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Rating) major shareholder Perceptive Advisors Llc bought 27,300 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was bought at an average cost of $5.12 per share, for a total transaction of $139,776.00. Following the completion of the acquisition, the insider now owns 1,916,955 shares in the company, valued at approximately $9,814,809.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Perceptive Advisors Llc also recently made the following trade(s):

• On Friday, May 19th, Perceptive Advisors Llc bought 25,200 shares of Soleno Therapeutics stock. The stock was bought at an average cost of $4.62 per share, for a total transaction of $116,424.00.

Soleno Therapeutics Stock Down 8.5 %

NASDAQ:SLNO opened at $5.03 on Friday. The business’s 50-day simple moving average is $3.39 and its two-hundred day simple moving average is $2.35. The stock has a market cap of $41.10 million, a PE ratio of -1.61 and a beta of 0.22. Soleno Therapeutics, Inc. has a 52 week low of $0.85 and a 52 week high of $5.56.

Soleno Therapeutics (NASDAQ:SLNO – Get Rating) last posted its quarterly earnings results on Tuesday, March 21st. The company reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.18. Sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Oppenheimer reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Soleno Therapeutics in a report on Friday, March 24th.

Institutional Investors Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Worth Venture Partners LLC purchased a new position in shares of Soleno Therapeutics during the first quarter valued at about $377,000. Carlyle Group Inc. purchased a new position in shares of Soleno Therapeutics during the first quarter valued at about $2,535,000. Renaissance Technologies LLC grew its position in shares of Soleno Therapeutics by 121.6% during the second quarter. Renaissance Technologies LLC now owns 550,131 shares of the company’s stock valued at $102,000 after purchasing an additional 301,931 shares in the last quarter. Clayton Partners LLC purchased a new position in shares of Soleno Therapeutics during the third quarter valued at about $167,000. Finally, JPMorgan Chase & Co. grew its position in shares of Soleno Therapeutics by 1,164,483.3% during the first quarter. JPMorgan Chase & Co. now owns 69,875 shares of the company’s stock valued at $150,000 after purchasing an additional 69,869 shares in the last quarter.

About Soleno Therapeutics

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Soleno Therapeutics, Inc operates as clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapeutics for the treatment of rare diseases. It focuses on the treatment of metabolic and neurobehavioral disorder. It offers its lead candidate, Diazoxide Choline Controlled-Release (DCCR), an oral tablet for the treatment of Prader-Willi Syndrome (PWS).