Perceptive Advisors Llc Buys 25,000 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock

Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Rating) major shareholder Perceptive Advisors Llc bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was bought at an average price of $5.48 per share, for a total transaction of $137,000.00. Following the completion of the acquisition, the insider now directly owns 1,969,455 shares in the company, valued at $10,792,613.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares 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, for a total transaction of $118,575.00.
• On Monday, May 22nd, Perceptive Advisors Llc bought 27,300 shares of Soleno Therapeutics stock. The stock was acquired at an average cost of $5.12 per share, with a total value of $139,776.00.
• On Friday, May 19th, Perceptive Advisors Llc bought 25,200 shares of Soleno Therapeutics stock. The stock was acquired at an average cost of $4.62 per share, with a total value of $116,424.00.

Soleno Therapeutics Price Performance

SLNO traded up $0.22 during trading on Friday, reaching $5.25. 105,534 shares of the stock traded hands, compared to its average volume of 119,554. The stock has a market cap of $42.89 million, a price-to-earnings ratio of -1.72 and a beta of 0.22. The stock’s 50-day simple moving average is $3.39 and its two-hundred day simple moving average is $2.35. Soleno Therapeutics, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $5.56.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Soleno Therapeutics

Several large investors have recently made changes to their positions in SLNO. Renaissance Technologies LLC lifted 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 worth $99,000 after purchasing an additional 4,800 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Soleno Therapeutics in the 1st quarter valued at approximately $64,000. Millennium Management LLC acquired a new position in Soleno Therapeutics in the 4th quarter valued at approximately $91,000. JPMorgan Chase & Co. raised its holdings in Soleno Therapeutics by 1,164,483.3% in the 1st quarter. JPMorgan Chase & Co. now owns 69,875 shares of the company’s stock valued at $150,000 after acquiring an additional 69,869 shares in the last quarter. Finally, Clayton Partners LLC acquired a new position in Soleno Therapeutics in the 3rd quarter valued at approximately $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).