Polar Asset Management Partners Inc. Has $1.60 Million Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Polar Asset Management Partners Inc. cut its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 57.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,600 shares of the company's stock after selling 42,900 shares during the period. Polar Asset Management Partners Inc. owned 0.07% of Soleno Therapeutics worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Soleno Therapeutics in the third quarter valued at approximately $155,000. Curi RMB Capital LLC bought a new stake in Soleno Therapeutics in the third quarter valued at approximately $202,000. Intech Investment Management LLC acquired a new stake in Soleno Therapeutics in the third quarter worth $262,000. Finally, Fred Alger Management LLC bought a new position in shares of Soleno Therapeutics during the third quarter worth $310,000. Institutional investors own 97.42% of the company's stock.

Insider Activity at Soleno Therapeutics

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

Analyst Ratings Changes

SLNO has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Robert W. Baird restated an "outperform" rating and issued a $72.00 price target on shares of Soleno Therapeutics in a report on Monday. Stifel Nicolaus reiterated a "buy" rating and set a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday. HC Wainwright reiterated a "buy" rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday. Finally, Oppenheimer raised their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics presently has an average rating of "Buy" and a consensus target price of $74.83.

Soleno Therapeutics Price Performance

NASDAQ:SLNO traded down $0.50 during trading hours on Friday, reaching $49.15. 510,457 shares of the stock were exchanged, compared to its average volume of 484,984. The stock has a market cap of $2.12 billion, a PE ratio of -14.80 and a beta of -1.47. Soleno Therapeutics, Inc. has a twelve month low of $33.89 and a twelve month high of $60.92. The firm has a 50 day moving average of $53.69 and a 200 day moving average of $48.77.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 earnings per share 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.