The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Soleno Therapeutics Inc shares valued at $51,416,038 were purchased by Abingworth Bioventures VII LP on Oct 21 ’24. At $54.16 per share, Abingworth Bioventures VII LP acquired 949,336 shares.
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Also, Abingworth Bioventures VII LP purchased 2,522,751 shares, netting a total of over 125,204,132 in proceeds.
Before that, Yen Kristen had sold 3,108 shares from its account. In a trade valued at $153,627, the insider traded Soleno Therapeutics Inc shares for $49.43 each. Upon closing the transaction, the insider’s holdings decreased to 3,108 shares, worth approximately $4.47 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 drop of approximately -1.53%. Over the course of the year, Soleno Therapeutics Inc shares have jumped approximately 36.22%. Shares of the company reached a 52-week high of $59.75 on 11/11/24 and a 52-week low of $35.70 on 01/04/24. A 50-day SMA is recorded $52.97, while a 200-day SMA reached $46.91. Nevertheless, trading volume fell to 0.67 million shares from 0.46 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 52.57, which, if violated, would cause prices to drop to 50.31. In the upper region, resistance lies at 56.30. The next price resistance is at 57.76. RSI (Relative Strength Index) is 52.01 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.66, which suggests the price will decrease in the coming days. Percent R is at 54.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
