Moody Aldrich Partners LLC Purchases New Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Moody Aldrich Partners LLC acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 29,614 shares of the company's stock, valued at approximately $1,331,000. Moody Aldrich Partners LLC owned approximately 0.07% of Soleno Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $89,000. Avanza Fonder AB purchased a new position in Soleno Therapeutics in the 4th quarter worth about $76,000. Harbor Capital Advisors Inc. raised its position in Soleno Therapeutics by 3.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company's stock worth $1,676,000 after buying an additional 1,248 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Soleno Therapeutics by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company's stock valued at $703,000 after acquiring an additional 3,666 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at about $490,000. 97.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer boosted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Stifel Nicolaus restated a "buy" rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Robert W. Baird reaffirmed an "outperform" rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $74.83.

Insider Activity at Soleno Therapeutics

In related news, insider Kristen Yen sold 2,340 shares of the firm's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares of the company's stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares of the company's stock, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Stock Performance

Shares of SLNO stock traded up $0.39 during mid-day trading on Friday, reaching $50.23. 358,231 shares of the company's stock traded hands, compared to its average volume of 410,277. The firm has a market capitalization of $2.17 billion, a PE ratio of -15.13 and a beta of -1.47. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $60.92. The firm has a 50 day moving average price of $47.77 and a two-hundred day moving average price of $49.77.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal 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.