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Potential Price Increase for Soleno Therapeutics Inc (SLNO) After Recent Insider Activity

In a filing, Soleno Therapeutics Inc revealed its CHIEF EXECUTIVE OFFICER Anish Bhatnagar unloaded Company’s shares for reported $0.78 million on Apr 01 ’24. In the deal valued at $41.34 per share,18,980 shares were sold. As a result of this transaction, Anish Bhatnagar now holds 152,790 shares worth roughly $6.96 million.

Then, Mackaness James H sold 5,175 shares, generating $213,937 in total proceeds. Upon selling the shares at $41.34, the CHIEF FINANCIAL OFFICER now owns 62,953 shares.

Before that, Yen Kristen sold 2,218 shares. Soleno Therapeutics Inc shares valued at $91,694 were divested by the insider at a price of $41.34 per share. As a result of the transaction, Yen Kristen now holds 23,422 shares, worth roughly $1.07 million.

Piper Sandler initiated its Soleno Therapeutics Inc [SLNO] rating to an Overweight in a research note published on February 05, 2024; the price target was $93. A number of analysts have revised their coverage, including Stifel’s analysts, who began to cover the stock in late January with a ‘”a Buy”‘ rating. Guggenheim started covering the stock on September 29, 2020. It rated SLNO as “a Buy”.

Price Performance Review of SLNO

On Monday, Soleno Therapeutics Inc [NASDAQ:SLNO] saw its stock jump 20.16% to $45.53. Over the last five days, the stock has gained 21.28%. Soleno Therapeutics Inc shares have risen nearly 13.12% since the year began. Nevertheless, the stocks have risen 1305.25% over the past one year. While a 52-week high of $53.82 was reached on 02/28/24, a 52-week low of $3.16 was recorded on 01/04/24. SMA at 50 days reached $43.16, while 200 days put it at $28.63. A total of 3.5 million shares were traded, compared to the trading of 0.34 million shares in the previous session.

Levels Of Support And Resistance For SLNO Stock

The 24-hour chart illustrates a support level at 42.20, which if violated will result in even more drops to 38.87. On the upside, there is a resistance level at 51.33. A further resistance level may holdings at 57.13. The Relative Strength Index (RSI) on the 14-day chart is 63.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.62, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 48.11%. Stochastics %K at 30.58% indicates the stock is a holding.

The most recent change occurred on January 10, 2020 when Craig Hallum began covering the stock and recommended ‘”a Buy”‘ rating along with a $8 price target.

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