Soleno Therapeutics Inc (NASDAQ:SLNO) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.35 and last traded at $1.40, with a volume of 1400 shares traded. The stock had previously closed at $1.53.
Separately, Maxim Group set a $5.00 price target on shares of Soleno Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 20th. Five equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $6.31.
The stock has a market cap of $33.00 million, a P/E ratio of -1.04 and a beta of 3.40.
In other Soleno Therapeutics news, major shareholder Jack W. Schuler acquired 3,031,002 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The stock was purchased at an average cost of $1.61 per share, with a total value of $4,879,913.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 43.27% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its holdings in shares of Soleno Therapeutics by 30.1% in 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. Trellus Management Company LLC grew its holdings in shares of Soleno Therapeutics by 10.8% during the fourth quarter. Trellus Management Company LLC now owns 169,380 shares of the company’s stock valued at $290,000 after buying an additional 16,551 shares in the last quarter. Finally, Fosun International Ltd acquired a new stake in Soleno Therapeutics during the fourth quarter valued at $294,000. 45.33% of the stock is owned by institutional investors.
About Soleno Therapeutics (NASDAQ:SLNO)
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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