Soleno Therapeutics, Inc. (NASDAQ:SLNO) Major Shareholder Perceptive Advisors Llc Purchases 22,500 Shares

Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Rating) major shareholder Perceptive Advisors Llc acquired 22,500 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was acquired at an average cost of $5.27 per share, with a total value of $118,575.00. Following the completion of the acquisition, the insider now owns 2,029,455 shares in the company, valued at approximately $10,695,227.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, May 24th, Perceptive Advisors Llc acquired 25,000 shares of Soleno Therapeutics stock. The stock was acquired at an average cost of $5.48 per share, with a total value of $137,000.00.
• On Monday, May 22nd, Perceptive Advisors Llc bought 27,300 shares of Soleno Therapeutics stock. The stock was purchased at an average price of $5.12 per share, for a total transaction of $139,776.00.
• On Friday, May 19th, Perceptive Advisors Llc bought 25,200 shares of Soleno Therapeutics stock. The stock was purchased at an average price of $4.62 per share, for a total transaction of $116,424.00.

Soleno Therapeutics Stock Performance

NASDAQ SLNO traded up $0.22 on Friday, hitting $5.25. The stock had a trading volume of 105,534 shares, compared to its average volume of 119,554. The firm has a 50-day moving average of $3.39 and a 200-day moving average of $2.35. The company has a market capitalization of $42.89 million, a price-to-earnings ratio of -1.68 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 data on Tuesday, March 21st. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.18. As a group, research analysts anticipate that Soleno Therapeutics, Inc. will post -1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Soleno Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new stake in shares of Soleno Therapeutics during the 1st quarter valued at $64,000. Millennium Management LLC purchased a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $91,000. Renaissance Technologies LLC raised its position in shares of Soleno Therapeutics by 10.7% during the 4th quarter. Renaissance Technologies LLC now owns 49,754 shares of the company’s stock valued at $99,000 after buying an additional 4,800 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Soleno Therapeutics by 1,164,483.3% during the 1st quarter. JPMorgan Chase & Co. now owns 69,875 shares of the company’s stock valued at $150,000 after buying an additional 69,869 shares in the last quarter. Finally, Clayton Partners LLC purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at $167,000.

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).