Martingale Asset Management L P Purchases Shares of 21,975 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Martingale Asset Management L P bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,975 shares of the company's stock, valued at approximately $1,110,000. Martingale Asset Management L P owned approximately 0.05% of Soleno Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD acquired a new stake in Soleno Therapeutics in the first quarter valued at approximately $6,533,000. California State Teachers Retirement System boosted its stake in shares of Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company's stock valued at $590,000 after purchasing an additional 3,481 shares in the last quarter. SG Americas Securities LLC bought a new position in Soleno Therapeutics in the 2nd quarter worth $569,000. Assenagon Asset Management S.A. purchased a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at about $29,778,000. Finally, Bank of New York Mellon Corp bought a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $3,623,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 21,633 shares of the business's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at approximately $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James H. Mackaness sold 8,077 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the transaction, the chief financial officer now directly owns 119,172 shares of the company's stock, valued at $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,818 shares of company stock valued at $1,622,194 over the last quarter. Corporate insiders own 12.30% of the company's stock.

Soleno Therapeutics Stock Down 5.1 %

NASDAQ:SLNO traded down $2.71 on Monday, reaching $50.00. The company's stock had a trading volume of 1,166,122 shares, compared to its average volume of 482,139. Soleno Therapeutics, Inc. has a 12-month low of $27.27 and a 12-month high of $60.92. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -15.06 and a beta of -1.44. The stock has a 50 day moving average price of $53.54 and a 200 day moving average price of $48.70.

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

Wall Street Analysts Forecast Growth

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

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.