TimesSquare Capital Management LLC Acquires Shares of 339,774 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

TimesSquare Capital Management LLC purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 339,774 shares of the company's stock, valued at approximately $15,273,000. TimesSquare Capital Management LLC owned about 0.79% of Soleno Therapeutics at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SLNO. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics in the fourth quarter worth about $76,000. Avior Wealth Management LLC bought a new position in Soleno Therapeutics during the 4th quarter worth about $89,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Soleno Therapeutics during the 3rd quarter worth about $155,000. Curi RMB Capital LLC bought a new position in Soleno Therapeutics during the 3rd quarter worth about $202,000. Finally, Intech Investment Management LLC bought a new position in Soleno Therapeutics during the 3rd quarter worth about $262,000. 97.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares of the company's stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the transaction, the chief executive officer now directly owns 708,616 shares of the company's stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on SLNO shares. HC Wainwright reiterated a "buy" rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer increased their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Robert W. Baird reissued an "outperform" rating and set a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Stifel Nicolaus reaffirmed a "buy" rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Soleno Therapeutics presently has an average rating of "Buy" and a consensus price target of $71.20.

Soleno Therapeutics Stock Down 2.7 %

Shares of Soleno Therapeutics stock traded down $1.29 during midday trading on Friday, hitting $46.13. The company had a trading volume of 352,731 shares, compared to its average volume of 382,876. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $60.92. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -13.89 and a beta of -1.46. The company has a fifty day simple moving average of $47.24 and a 200 day simple moving average of $49.94.

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.