Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Bioasia Mangement Llc sold 90,724 shares of Soleno Therapeutics stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $1.93, for a total transaction of $175,097.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of SLNO opened at $1.95 on Wednesday. Soleno Therapeutics Inc has a 1-year low of $1.11 and a 1-year high of $5.07. The stock has a market cap of $61.97 million, a PE ratio of -3.00 and a beta of 3.27.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.07. On average, sell-side analysts forecast that Soleno Therapeutics Inc will post -0.77 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of SLNO. Fosun International Ltd bought a new stake in Soleno Therapeutics during the fourth quarter worth about $294,000. Trellus Management Company LLC boosted its stake in Soleno Therapeutics by 42.1% during the first quarter. Trellus Management Company LLC now owns 240,645 shares of the company’s stock worth $496,000 after acquiring an additional 71,265 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Soleno Therapeutics during the first quarter worth about $131,000. Virtu Financial LLC bought a new stake in Soleno Therapeutics during the first quarter worth about $72,000. Finally, Vanguard Group Inc boosted its stake in Soleno Therapeutics by 30.1% during the third quarter. Vanguard Group Inc now owns 66,075 shares of the company’s stock worth $143,000 after acquiring an additional 15,281 shares in the last quarter. 47.69% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a research note on Saturday, March 16th.

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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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