Soleno Therapeutics Inc (NASDAQ:SLNO) Major Shareholder Sells $175,097.32 in Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Bioasia Mangement Llc sold 90,724 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $1.93, for a total value of $175,097.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NASDAQ:SLNO traded down $0.11 during trading hours on Friday, hitting $2.73. The company had a trading volume of 62,133 shares, compared to its average volume of 897,954. The stock has a market cap of $86.75 million, a P/E ratio of -4.20 and a beta of 2.52. Soleno Therapeutics Inc has a 1 year low of $1.11 and a 1 year high of $5.07.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Monday, May 13th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.07. Analysts predict that Soleno Therapeutics Inc will post -0.77 EPS for the current year.

Separately, Zacks Investment Research raised Soleno Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Saturday, May 18th.

Large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in Soleno Therapeutics in the 1st quarter valued at $72,000. Fosun International Ltd purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth $294,000. Trellus Management Company LLC grew its holdings in shares of Soleno Therapeutics by 10.8% during the 4th quarter. Trellus Management Company LLC now owns 169,380 shares of the company’s stock worth $290,000 after purchasing an additional 16,551 shares during the period. Vanguard Group Inc grew its holdings in shares of Soleno Therapeutics by 30.1% during the 3rd quarter. Vanguard Group Inc now owns 66,075 shares of the company’s stock worth $143,000 after purchasing an additional 15,281 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Soleno Therapeutics during the 1st quarter worth $131,000. Institutional investors own 46.08% of the company’s stock.

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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 is diazoxide choline controlled-release, a tablet that is in Phase III clinical trial for the treatment of Prader-Willi Syndrome. The company was formerly known as Capnia, Inc and changed its name to Soleno Therapeutics, Inc in May 2017.

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