AlphaQuest LLC Raises Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

AlphaQuest LLC lifted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 1,154.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 715 shares of the company’s stock after acquiring an additional 658 shares during the period. AlphaQuest LLC’s holdings in Soleno Therapeutics were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SLNO. Victory Capital Management Inc. increased its position in shares of Soleno Therapeutics by 25.9% in the 3rd quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock valued at $682,000 after acquiring an additional 2,782 shares during the period. Intech Investment Management LLC acquired a new position in shares of Soleno Therapeutics in the 3rd quarter valued at $262,000. Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 208.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock valued at $9,724,000 after acquiring an additional 130,080 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Soleno Therapeutics in the 3rd quarter valued at $25,028,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Soleno Therapeutics by 6.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock valued at $2,657,000 after acquiring an additional 3,226 shares during the period. 97.42% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Soleno Therapeutics

In related news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,360 shares of company stock worth $790,119 in the last 90 days. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

SLNO opened at $49.11 on Friday. The company’s 50 day simple moving average is $47.71 and its two-hundred day simple moving average is $49.75. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $60.92. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -14.79 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price target on the stock. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average price target of $71.20.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.