Technology Partners Fund Vii L Sells 22,682 Shares of Soleno Therapeutics Inc (SLNO) Stock

Soleno Therapeutics Inc (NASDAQ:SLNO) major shareholder Technology Partners Fund Vii L sold 22,682 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

SLNO traded down $0.08 on Friday, reaching $1.95. The company’s stock had a trading volume of 7,590 shares, compared to its average volume of 28,420. The company has a market capitalization of $42.40 million, a price-to-earnings ratio of -1.44 and a beta of 4.87. Soleno Therapeutics Inc has a fifty-two week low of $1.32 and a fifty-two week high of $3.70.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vivo Capital LLC lifted its stake in Soleno Therapeutics by 8.1% in the second quarter. Vivo Capital LLC now owns 4,359,683 shares of the company’s stock valued at $10,202,000 after buying an additional 326,149 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Soleno Therapeutics in the second quarter valued at approximately $104,000. Finally, Trellus Management Company LLC purchased a new stake in Soleno Therapeutics in the second quarter valued at approximately $302,000. Institutional investors own 44.25% of the company’s stock.

A number of equities analysts recently issued reports on SLNO shares. Roth Capital started coverage on Soleno Therapeutics in a report on Friday, June 22nd. They issued a “buy” rating and a $14.00 price target for the company. ValuEngine raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Maxim Group set a $4.00 price target on Soleno Therapeutics and gave the company a “buy” rating in a report on Monday, July 30th. Finally, Zacks Investment Research raised 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. Six analysts have rated the stock with a buy rating, Soleno Therapeutics has a consensus rating of “Buy” and an average price target of $6.50.

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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