Soleno Therapeutics (NASDAQ:SLNO) major shareholder Larry N. Feinberg bought 50,000 shares of the stock in a transaction on Tuesday, May 15th. The stock was purchased at an average price of $1.80 per share, for a total transaction of $90,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Soleno Therapeutics traded down $0.04, hitting $1.75, on Wednesday, Marketbeat.com reports. 34,580 shares of the company traded hands, compared to its average volume of 48,620. Soleno Therapeutics has a 12-month low of $1.76 and a 12-month high of $1.77.
Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Monday, April 2nd. The company reported ($0.39) earnings per share for the quarter.
Several analysts have issued reports on the stock. Noble Financial set a $4.00 target price on shares of Soleno Therapeutics and gave the stock a “buy” rating in a research note on Wednesday. ValuEngine upgraded shares of Soleno Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Maxim Group set a $4.00 price objective on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Monday, April 2nd.
Several institutional investors have recently bought and sold shares of the company. Birchview Capital LP purchased a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $1,032,000. 683 Capital Management LLC raised its position in shares of Soleno Therapeutics by 462.7% during the 4th quarter. 683 Capital Management LLC now owns 844,112 shares of the company’s stock valued at $1,519,000 after buying an additional 694,112 shares in the last quarter. Finally, Sabby Management LLC purchased a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $1,647,000. Hedge funds and other institutional investors own 45.31% 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. The company's lead candidate, diazoxide choline controlled-release (DCCR), a once-daily oral tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into Phase II/III clinical development.
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