Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Soleno Therapeutics Inc shares valued at $125,204,132 were purchased by Abingworth Bioventures VII LP on Oct 07 ’24. At $49.63 per share, Abingworth Bioventures VII LP acquired 2,522,751 shares.
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Also, Yen Kristen sold 3,108 shares, netting a total of over 153,627 in proceeds. Following the sale of shares at $49.43 each, the insider now holds 81,465 shares.
Before that, Mackaness James H had sold 8,077 shares from its account. In a trade valued at $399,241, the CHIEF FINANCIAL OFFICER traded Soleno Therapeutics Inc shares for $49.43 each. Upon closing the transaction, the insider’s holdings decreased to 8,077 shares, worth approximately $6.49 million.
As published in their initiating research note from H.C. Wainwright on September 03, 2024, Soleno Therapeutics Inc [SLNO] has been a Buy and the price target has been revised to $70. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in early May. As of February 05, 2024, Piper Sandler has initiated its “an Overweight” rating for SLNO. Earlier on January 23, 2024, Stifel initiated its rating. Their recommendation was “a Buy” for SLNO stock.
Analyzing SLNO Stock Performance
During the last five days, there has been a surge of approximately 6.70%. Over the course of the year, Soleno Therapeutics Inc shares have jumped approximately 35.40%. Shares of the company reached a 52-week high of $56.81 on 10/08/24 and a 52-week low of $35.70 on 01/04/24. A 50-day SMA is recorded $49.64, while a 200-day SMA reached $45.55. Nevertheless, trading volume fell to 0.59 million shares from 0.54 million shares the previous day.
Support And Resistance Levels for Soleno Therapeutics Inc (SLNO)
According to the 24-hour chart, there is a support level at 53.97, which, if violated, would cause prices to drop to 53.43. In the upper region, resistance lies at 55.02. The next price resistance is at 55.53. RSI (Relative Strength Index) is 60.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.01, which suggests the price will increase in the coming days. Percent R is at 24.63%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
