CenterBook Partners LP Takes $1.36 Million Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

CenterBook Partners LP purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 30,136 shares of the company's stock, valued at approximately $1,355,000. CenterBook Partners LP owned approximately 0.07% of Soleno Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of SLNO. Barclays PLC lifted its stake in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after acquiring an additional 31,467 shares during the last quarter. Emerald Advisers LLC boosted its holdings in Soleno Therapeutics by 85.4% in the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock worth $26,112,000 after acquiring an additional 267,585 shares in the last quarter. State Street Corp raised its holdings in shares of Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company's stock worth $57,668,000 after buying an additional 142,033 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Soleno Therapeutics by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock valued at $9,779,000 after purchasing an additional 24,953 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Soleno Therapeutics by 47.0% in the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company's stock valued at $739,000 after acquiring an additional 5,258 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

NASDAQ:SLNO traded down $1.12 during mid-day trading on Wednesday, reaching $69.13. 190,366 shares of the company's stock traded hands, compared to its average volume of 712,125. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $74.00. The company has a 50 day moving average price of $53.97 and a 200-day moving average price of $51.67. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -20.82 and a beta of -2.29.

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

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday. Stifel Nicolaus lifted their target price 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. UBS Group set a $105.00 price target on Soleno Therapeutics in a report on Thursday, March 27th. Laidlaw raised their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $99.63.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the transaction, the insider now directly owns 55,789 shares in the company, valued at approximately $3,811,504.48. This represents a 69.75 % decrease in their ownership of the stock. 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 over the last ninety days. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Company 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.