Artia Global Partners LP Has $22.22 Million Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Artia Global Partners LP grew its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 80.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 494,424 shares of the company's stock after acquiring an additional 220,000 shares during the period. Soleno Therapeutics comprises approximately 7.9% of Artia Global Partners LP's investment portfolio, making the stock its biggest position. Artia Global Partners LP owned approximately 1.15% of Soleno Therapeutics worth $22,224,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SLNO. Aquatic Capital Management LLC purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth $1,313,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Soleno Therapeutics by 24.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after buying an additional 321,223 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock worth $113,499,000 after buying an additional 344,000 shares in the last quarter. Rock Springs Capital Management LP purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth $5,578,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Soleno Therapeutics by 811.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company's stock worth $193,000 after buying an additional 3,832 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLNO. Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a report on Friday, March 28th. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Piper Sandler upped their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, Cantor Fitzgerald upped their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $104.67.

Soleno Therapeutics Trading Up 2.2 %

Shares of SLNO stock traded up $1.63 during trading hours on Tuesday, hitting $75.27. The company's stock had a trading volume of 1,022,119 shares, compared to its average volume of 728,649. The business has a fifty day moving average of $58.49 and a 200-day moving average of $53.16. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -22.67 and a beta of -2.29. Soleno Therapeutics, Inc. has a twelve month low of $36.93 and a twelve month high of $76.49.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its 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 expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at $39,021,879.12. This represents a 54.78 % 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 worth $64,058,781 in the last quarter. 12.30% of the stock is owned by insiders.

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.