Marshall Wace LLP Buys 152,010 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Marshall Wace LLP raised its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 61.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,849 shares of the company's stock after purchasing an additional 152,010 shares during the quarter. Marshall Wace LLP owned 0.93% of Soleno Therapeutics worth $17,973,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SLNO. AlphaQuest LLC lifted its holdings in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE bought a new position in shares of Soleno Therapeutics during the 4th quarter worth $34,000. Avanza Fonder AB bought a new position in Soleno Therapeutics during the fourth quarter worth about $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics in the 4th quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the fourth quarter valued at $89,000. 97.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SLNO shares. Robert W. Baird upped their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday, March 27th. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald increased their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, Piper Sandler upped their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $104.67.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares in the company, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was 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 owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock valued at $64,058,781 in the last three months. Company insiders own 12.30% of the company's stock.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock traded up $1.96 during mid-day trading on Thursday, reaching $74.23. 1,364,576 shares of the company traded hands, compared to its average volume of 733,483. The firm's 50 day moving average price is $56.41 and its 200 day moving average price is $52.52. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $74.50. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -22.36 and a beta of -2.29.

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, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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.