Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report) major shareholder Vivo Opportunity, Llc sold 750,000 shares of Soleno Therapeutics stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the sale, the insider now owns 7,668,093 shares of the company’s stock, valued at $366,534,845.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Soleno Therapeutics Stock Performance
Shares of SLNO opened at $47.54 on Thursday. The company’s fifty day moving average is $42.96 and its 200 day moving average is $38.20. Soleno Therapeutics, Inc. has a fifty-two week low of $3.48 and a fifty-two week high of $53.82. The stock has a market capitalization of $1.59 billion, a PE ratio of -16.01 and a beta of -1.56.
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last announced its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.02). As a group, research analysts forecast that Soleno Therapeutics, Inc. will post -1.23 earnings per share for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a report on Tuesday, January 23rd. They issued a “buy” rating and a $63.00 price objective on the stock. Piper Sandler initiated coverage on shares of Soleno Therapeutics in a report on Monday, February 5th. They issued an “overweight” rating and a $93.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and an average price target of $55.60.
View Our Latest Analysis on Soleno Therapeutics
Soleno Therapeutics Company Profile
Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.
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