Jump Financial LLC Acquires Shares of 11,819 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Jump Financial LLC bought a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,819 shares of the company's stock, valued at approximately $531,000.

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

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction on 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 sale, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This represents a 69.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Pauls sold 5,937 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the sale, the director now owns 6,500 shares of the company's stock, valued at approximately $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 have sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLNO has been the topic of a number of analyst reports. Cantor Fitzgerald upped their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Piper Sandler increased their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Finally, Stifel Nicolaus boosted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and a consensus target price of $104.67.

Soleno Therapeutics Trading Down 1.3 %

SLNO stock traded down $0.97 during trading on Friday, reaching $73.26. The stock had a trading volume of 776,359 shares, compared to its average volume of 737,909. The stock's 50 day moving average is $57.41 and its two-hundred day moving average is $52.85. The firm has a market cap of $3.36 billion, a PE ratio of -22.07 and a beta of -2.29. Soleno Therapeutics, Inc. has a 52 week low of $36.93 and a 52 week high of $74.50.

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 for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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.