Insider Selling: Soleno Therapeutics Inc (SLNO) Major Shareholder Sells $46,044.46 in Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Technology Partners Fund Vii L sold 22,682 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $2.03, for a total value of $46,044.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Soleno Therapeutics stock traded down $0.08 during mid-day trading on Friday, hitting $1.95. The company had a trading volume of 7,590 shares, compared to its average volume of 28,420. Soleno Therapeutics Inc has a 12 month low of $1.32 and a 12 month high of $3.70.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Tuesday, August 14th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.12). research analysts predict that Soleno Therapeutics Inc will post -1.11 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new stake in Soleno Therapeutics in the second quarter worth $104,000. Trellus Management Company LLC bought a new stake in Soleno Therapeutics in the second quarter worth $302,000. Finally, Vivo Capital LLC boosted its holdings in Soleno Therapeutics by 8.1% in the second quarter. Vivo Capital LLC now owns 4,359,683 shares of the company’s stock worth $10,202,000 after acquiring an additional 326,149 shares in the last quarter. 44.25% of the stock is currently owned by institutional investors and hedge funds.

SLNO has been the topic of several recent research reports. Roth Capital initiated coverage on Soleno Therapeutics in a research note on Friday, June 22nd. They issued a “buy” rating and a $14.00 price target on the stock. Maxim Group set a $4.00 price target on Soleno Therapeutics and gave the stock a “buy” rating in a research note on Monday, July 30th. ValuEngine raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, Zacks Investment Research raised Soleno Therapeutics from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research note on Thursday, August 23rd. Six research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $6.50.

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, diazoxide choline controlled-release (DCCR), a tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into late-stage clinical development.

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