Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. decreased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,775,976 shares of the company's stock after selling 546,170 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 6.44% of Soleno Therapeutics worth $124,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLNO. AlphaQuest LLC grew its holdings in shares of 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 buying an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in Soleno Therapeutics in the 4th quarter worth approximately $34,000. Avanza Fonder AB acquired a new position in Soleno Therapeutics in the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth $89,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLNO has been the subject of several analyst reports. Robert W. Baird upped their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Guggenheim reiterated a "buy" rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a report on Thursday, March 27th. Stifel Nicolaus increased their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $99.63.

Soleno Therapeutics Trading Up 3.6 %

NASDAQ:SLNO opened at $71.40 on Wednesday. The firm's fifty day simple moving average is $55.94 and its 200 day simple moving average is $52.38. Soleno Therapeutics, Inc. has a twelve month low of $36.93 and a twelve month high of $74.00. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -21.51 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its 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, analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the transaction, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patricia C. Hirano sold 3,782 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 942,672 shares of company stock valued at $64,058,781 over the last 90 days. 12.30% of the stock is owned by corporate insiders.

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.

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