ADAR1 Capital Management LLC Grows Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

ADAR1 Capital Management LLC raised its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 268.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,830 shares of the company's stock after buying an additional 26,830 shares during the period. ADAR1 Capital Management LLC owned about 0.09% of Soleno Therapeutics worth $1,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SLNO. AlphaQuest LLC boosted its holdings in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE bought a new stake in shares of Soleno Therapeutics in the 4th quarter valued at $34,000. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics in the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in Soleno Therapeutics during the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics during the fourth quarter worth $89,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Trading Up 6.9 %

Shares of NASDAQ:SLNO traded up $4.36 during mid-day trading on Friday, hitting $67.23. 985,354 shares of the company traded hands, compared to its average volume of 707,660. The stock has a market cap of $3.08 billion, a P/E ratio of -20.25 and a beta of -2.29. The stock has a 50-day moving average price of $53.20 and a two-hundred day moving average price of $51.38. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Patricia C. Hirano sold 128,653 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares in the company, valued at $3,811,504.48. This trade represents a 69.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Pauls sold 5,937 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the completion of the sale, the director now directly owns 6,500 shares in the company, valued at $465,075. This trade represents a 47.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last 90 days. 12.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SLNO has been the subject of a number of recent analyst reports. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Cantor Fitzgerald raised their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. HC Wainwright boosted their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, March 31st. Laidlaw raised their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Robert W. Baird upped their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $99.63.

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.