Insider Buying: Soleno Therapeutics, Inc. (NASDAQ:SLNO) Major Shareholder Acquires 25,000 Shares of Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Rating) major shareholder Perceptive Advisors Llc bought 25,000 shares of the stock in a transaction dated Wednesday, May 24th. The stock was bought at an average price of $5.48 per share, with a total value of $137,000.00. Following the purchase, the insider now owns 1,969,455 shares of the company’s stock, valued at approximately $10,792,613.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, May 26th, Perceptive Advisors Llc bought 22,500 shares of Soleno Therapeutics stock. The stock was bought at an average price of $5.27 per share, with a total value of $118,575.00.
• On Monday, May 22nd, Perceptive Advisors Llc bought 27,300 shares of Soleno Therapeutics stock. The stock was bought at an average price of $5.12 per share, with a total value of $139,776.00.
• On Friday, May 19th, Perceptive Advisors Llc acquired 25,200 shares of Soleno Therapeutics stock. The shares were acquired at an average price of $4.62 per share, with a total value of $116,424.00.

Soleno Therapeutics Trading Up 4.4 %

NASDAQ SLNO traded up $0.22 during mid-day trading on Friday, reaching $5.25. 105,534 shares of the company’s stock traded hands, compared to its average volume of 119,554. Soleno Therapeutics, Inc. has a 1-year low of $0.85 and a 1-year high of $5.56. The company has a fifty day simple moving average of $3.39 and a 200-day simple moving average of $2.35. The company has a market cap of $42.89 million, a price-to-earnings ratio of -1.72 and a beta of 0.22.

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

Analyst Ratings Changes

Separately, Oppenheimer restated an “outperform” rating and set a $8.00 price objective on shares of Soleno Therapeutics in a research note on Friday, March 24th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SLNO. Renaissance Technologies LLC lifted its holdings in Soleno Therapeutics by 309.6% during the 1st quarter. Renaissance Technologies LLC now owns 248,200 shares of the company’s stock worth $55,000 after buying an additional 187,600 shares during the last quarter. Worth Venture Partners LLC bought a new stake in shares of Soleno Therapeutics in the 1st quarter worth approximately $377,000. Clayton Partners LLC bought a new stake in shares of Soleno Therapeutics in the 3rd quarter worth approximately $167,000. Millennium Management LLC bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $91,000. Finally, Carlyle Group Inc. bought a new stake in shares of Soleno Therapeutics in the 1st quarter worth approximately $2,535,000.

Soleno Therapeutics Company Profile

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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).