SG Americas Securities LLC Buys Shares of 13,941 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

SG Americas Securities LLC bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 13,941 shares of the company's stock, valued at approximately $569,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vivo Capital LLC boosted its position in shares of Soleno Therapeutics by 162.8% during the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company's stock worth $338,828,000 after buying an additional 5,215,000 shares during the period. Carlyle Group Inc. grew its stake in shares of Soleno Therapeutics by 42.5% during the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company's stock worth $173,123,000 after acquiring an additional 1,213,758 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Soleno Therapeutics by 13.7% in the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company's stock valued at $122,698,000 after purchasing an additional 346,914 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Soleno Therapeutics by 107.0% in the first quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company's stock worth $69,550,000 after purchasing an additional 840,000 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Soleno Therapeutics during the fourth quarter worth $52,325,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Price Performance

SLNO stock traded down $0.21 during midday trading on Tuesday, reaching $51.00. 467,696 shares of the company were exchanged, compared to its average volume of 399,596. Soleno Therapeutics, Inc. has a one year low of $3.69 and a one year high of $53.82. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -19.03 and a beta of -1.39. The business has a 50-day moving average price of $45.30 and a two-hundred day moving average price of $44.49.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts' consensus estimates of ($0.63) by $0.06. As a group, analysts anticipate that Soleno Therapeutics, Inc. will post -2.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kristen Yen sold 2,170 shares of the firm's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the completion of the transaction, the insider now directly owns 21,252 shares in the company, valued at $882,808.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 19,256 shares of the business's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $799,894.24. Following the transaction, the chief executive officer now directly owns 133,534 shares of the company's stock, valued at $5,547,002.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kristen Yen sold 2,170 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $90,141.80. Following the transaction, the insider now owns 21,252 shares in the company, valued at approximately $882,808.08. The disclosure for this sale can be found here. Insiders sold 98,695 shares of company stock valued at $4,396,224 over the last quarter. 12.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLNO has been the topic of several recent research reports. Oppenheimer lifted their price target on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, August 12th. Baird R W raised Soleno Therapeutics to a "strong-buy" rating in a research report on Friday, May 10th. Robert W. Baird began coverage on Soleno Therapeutics in a research report on Friday, May 10th. They set an "outperform" rating and a $72.00 price target on the stock. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $66.67.

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.