Cinctive Capital Management LP bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,223 shares of the company's stock, valued at approximately $594,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bryce Point Capital LLC purchased a new position in shares of Soleno Therapeutics in the 4th quarter valued at about $620,000. Geode Capital Management LLC lifted its stake in Soleno Therapeutics by 10.9% in the fourth quarter. Geode Capital Management LLC now owns 599,119 shares of the company's stock worth $26,937,000 after acquiring an additional 58,823 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Soleno Therapeutics in the 4th quarter valued at $674,000. Alliancebernstein L.P. lifted its position in shares of Soleno Therapeutics by 3.5% during the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company's stock worth $1,070,000 after purchasing an additional 800 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Soleno Therapeutics by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company's stock worth $35,163,000 after purchasing an additional 99,095 shares in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.
Soleno Therapeutics Trading Up 7.2 %
Shares of NASDAQ SLNO traded up $4.23 during midday trading on Wednesday, reaching $63.27. 3,119,061 shares of the company were exchanged, compared to its average volume of 701,066. The stock has a market cap of $2.90 billion, a P/E ratio of -19.06 and a beta of -2.29. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $74.00. The stock has a fifty day simple moving average of $52.57 and a 200 day simple moving average of $51.14.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly 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). As a group, analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.
Analysts Set New Price Targets
SLNO has been the subject of several analyst reports. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research report on Thursday, March 27th. Stifel Nicolaus upped 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. HC Wainwright lifted their price target on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, March 31st. Guggenheim reissued a "buy" rating and issued a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Finally, Cantor Fitzgerald raised their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $99.63.
Check Out Our Latest Research Report on SLNO
Insider Buying and Selling at Soleno Therapeutics
In other news, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the transaction, the insider now owns 27,036 shares of the company's stock, valued at $1,895,493.96. The trade was a 12.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Matthew Pauls sold 5,937 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were 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 owns 6,500 shares in the company, valued at $465,075. This represents a 47.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is owned by company insiders.
About Soleno Therapeutics
(
Free Report)
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.
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