Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Bought by Holocene Advisors LP

Holocene Advisors LP lifted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 594,364 shares of the company's stock after purchasing an additional 57,913 shares during the period. Holocene Advisors LP owned about 1.38% of Soleno Therapeutics worth $30,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in Soleno Therapeutics in the 2nd quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $155,000. Curi RMB Capital LLC purchased a new stake in shares of Soleno Therapeutics in the third quarter valued at about $202,000. Intech Investment Management LLC purchased a new stake in shares of Soleno Therapeutics in the third quarter valued at about $262,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Soleno Therapeutics in the third quarter valued at about $310,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock traded up $1.16 during mid-day trading on Tuesday, hitting $51.16. The company had a trading volume of 639,051 shares, compared to its average volume of 482,705. The business has a fifty day moving average of $53.54 and a 200 day moving average of $48.70. Soleno Therapeutics, Inc. has a 1 year low of $27.27 and a 1 year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($1.22). Research analysts forecast that Soleno Therapeutics, Inc. will post -3.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SLNO shares. Robert W. Baird reaffirmed an "outperform" rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research report on Monday. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday. Stifel Nicolaus reaffirmed a "buy" rating and issued a $74.00 target price on shares of Soleno Therapeutics in a research report on Monday. Cantor Fitzgerald reissued an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, Oppenheimer increased their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of "Buy" and an average price target of $74.83.

Insider Activity

In related news, CEO Bhatnagar Anish sold 21,633 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kristen Yen sold 3,108 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the transaction, the insider now owns 81,465 shares in the company, valued at $4,026,814.95. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock valued at $1,622,194 in the last 90 days. 12.30% of the stock is currently 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.