Insider Selling: Soleno Therapeutics Inc (NASDAQ:SLNO) Major Shareholder Sells 22,682 Shares of Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Technology Partners Fund Vii L sold 22,682 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $2.03, for a total value of $46,044.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Soleno Therapeutics stock traded down $0.07 on Friday, reaching $2.21. The company had a trading volume of 24,509 shares, compared to its average volume of 100,317. The stock has a market cap of $46.25 million, a price-to-earnings ratio of -1.64 and a beta of 4.86. Soleno Therapeutics Inc has a 1 year low of $1.32 and a 1 year high of $3.60.

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

Several equities analysts have weighed in on SLNO shares. Roth Capital started coverage on Soleno Therapeutics in a report on Friday, June 22nd. They set a “buy” rating and a $14.00 price target for the company. Zacks Investment Research upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating and set a $2.50 price target for the company in a report on Thursday, August 23rd. Maxim Group set a $4.00 price target on Soleno Therapeutics and gave the company a “buy” rating in a report on Wednesday, August 15th. Finally, ValuEngine upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Six investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $6.50.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP purchased a new position in shares of Soleno Therapeutics in the 2nd quarter worth approximately $104,000. Trellus Management Company LLC purchased a new position in shares of Soleno Therapeutics in the 2nd quarter worth approximately $302,000. Finally, Vivo Capital LLC boosted its holdings in shares of Soleno Therapeutics by 8.1% in the 2nd quarter. Vivo Capital LLC now owns 4,359,683 shares of the company’s stock worth $10,202,000 after purchasing an additional 326,149 shares during the period. Hedge funds and other institutional investors own 44.25% of the company’s stock.

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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