Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Sold by Vestal Point Capital LP

Vestal Point Capital LP reduced its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 40.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 720,000 shares of the company's stock after selling 480,000 shares during the quarter. Soleno Therapeutics accounts for approximately 2.8% of Vestal Point Capital LP's holdings, making the stock its 12th biggest position. Vestal Point Capital LP owned about 1.67% of Soleno Therapeutics worth $36,353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLNO. Assenagon Asset Management S.A. bought a new stake in Soleno Therapeutics during the second quarter valued at about $29,778,000. Nantahala Capital Management LLC increased its holdings in Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company's stock worth $125,750,000 after acquiring an additional 671,728 shares in the last quarter. FMR LLC raised its stake in Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company's stock worth $33,595,000 after acquiring an additional 665,363 shares during the period. Westfield Capital Management Co. LP purchased a new position in Soleno Therapeutics during the third quarter valued at approximately $25,028,000. Finally, Avoro Capital Advisors LLC boosted its position in shares of Soleno Therapeutics by 28.7% in the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company's stock worth $85,340,000 after purchasing an additional 466,666 shares during the period. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 8,077 shares of Soleno Therapeutics stock in a transaction 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 transaction, the chief financial officer now directly owns 119,172 shares of the company's stock, valued at approximately $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen Yen sold 3,108 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now owns 81,465 shares of the company's stock, valued at approximately $4,026,814.95. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,818 shares of company stock valued at $1,622,194. Corporate insiders own 12.30% of the company's stock.

Soleno Therapeutics Stock Down 5.6 %

Shares of SLNO stock traded down $3.13 on Friday, hitting $52.71. The stock had a trading volume of 1,226,573 shares, compared to its average volume of 479,179. Soleno Therapeutics, Inc. has a one year low of $27.27 and a one year high of $60.92. The business has a 50 day moving average price of $53.48 and a 200 day moving average price of $48.54. The company has a market cap of $2.27 billion, a PE ratio of -15.61 and a beta of -1.44.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS 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 year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLNO. Oppenheimer raised their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. 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. Stifel Nicolaus increased their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Finally, HC Wainwright restated a "buy" rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, November 11th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $74.83.

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.