Soleno Therapeutics, Inc. (NASDAQ:SLNO) Position Trimmed by Quest Partners LLC

Quest Partners LLC lowered its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 22.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,022 shares of the company’s stock after selling 574 shares during the period. Quest Partners LLC’s holdings in Soleno Therapeutics were worth $82,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SLNO. Victory Capital Management Inc. raised its holdings in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after acquiring an additional 2,236 shares during the period. Cannon Global Investment Management LLC purchased a new stake in shares of Soleno Therapeutics in the first quarter valued at $505,000. Sei Investments Co. lifted its holdings in shares of Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Soleno Therapeutics in the second quarter worth $569,000. Finally, California State Teachers Retirement System grew its holdings in shares of Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after buying an additional 3,481 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

SLNO has been the subject of a number of research reports. HC Wainwright assumed coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price objective for the company. Oppenheimer boosted their price objective on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $67.14.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the transaction, the chief executive officer now owns 799,577 shares in the company, valued at $38,043,873.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Bhatnagar Anish sold 56,613 shares of Soleno Therapeutics stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $2,693,646.54. Following the transaction, the chief executive officer now directly owns 799,577 shares in the company, valued at $38,043,873.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James H. Mackaness sold 7,190 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $298,672.60. Following the sale, the chief financial officer now owns 55,763 shares of the company’s stock, valued at approximately $2,316,395.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 767,239 shares of company stock worth $36,744,548. 12.30% of the stock is currently owned by insiders.

Soleno Therapeutics Stock Up 0.2 %

SLNO stock opened at $52.92 on Wednesday. The firm has a 50 day moving average of $48.25 and a two-hundred day moving average of $44.60. Soleno Therapeutics, Inc. has a 12 month low of $3.96 and a 12 month high of $54.37. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -19.75 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.06. On average, research analysts expect that Soleno Therapeutics, Inc. will post -2.28 EPS for the current fiscal year.

Soleno Therapeutics Profile

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.