Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock Position Lifted by Nantahala Capital Management LLC

Nantahala Capital Management LLC boosted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 20.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,928,966 shares of the company's stock after purchasing an additional 658,518 shares during the period. Soleno Therapeutics makes up about 7.6% of Nantahala Capital Management LLC's portfolio, making the stock its biggest position. Nantahala Capital Management LLC owned approximately 9.11% of Soleno Therapeutics worth $176,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. AlphaQuest LLC grew its position in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $34,000. Avanza Fonder AB purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $81,000. Finally, Avior Wealth Management LLC purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $89,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Transactions at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the transaction, the insider now directly owns 27,036 shares in the company, valued at $1,895,493.96. The trade was a 12.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of the business's stock in a transaction that occurred on 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. This represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock worth $64,058,781 in the last ninety days. Insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLNO. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Guggenheim reaffirmed a "buy" rating and issued a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Stifel Nicolaus increased their target price 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. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, UBS Group set a $105.00 price target on Soleno Therapeutics in a research note on Thursday, March 27th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $104.67.

Soleno Therapeutics Trading Down 1.3 %

SLNO stock opened at $73.26 on Monday. Soleno Therapeutics, Inc. has a 12-month low of $36.93 and a 12-month high of $74.50. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of -22.07 and a beta of -2.29. The business's 50-day moving average is $57.41 and its 200 day moving average is $52.87.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS 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.

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