Walleye Capital LLC Invests $3.46 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Walleye Capital LLC acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 76,934 shares of the company's stock, valued at approximately $3,458,000. Walleye Capital LLC owned about 0.18% of Soleno Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. AlphaQuest LLC increased its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE acquired a new position in shares of Soleno Therapeutics in the fourth quarter valued at approximately $34,000. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new position in Soleno Therapeutics in the 4th quarter valued at $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Up 2.1 %

Shares of SLNO stock traded up $1.48 during mid-day trading on Wednesday, reaching $72.88. The stock had a trading volume of 406,194 shares, compared to its average volume of 726,091. The company has a market cap of $3.34 billion, a P/E ratio of -21.95 and a beta of -2.29. Soleno Therapeutics, Inc. has a 12-month low of $36.93 and a 12-month high of $74.47. The business has a 50-day simple moving average of $55.94 and a 200 day simple moving average of $52.38.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted 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). Research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. 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. Laidlaw increased their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird raised their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Finally, Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $99.63.

Insider Activity at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the transaction, the insider now directly owns 27,036 shares of the company's stock, valued at $1,895,493.96. The trade was a 12.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the sale, the director now directly owns 6,500 shares in the company, valued at approximately $465,075. The trade was a 47.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is owned by corporate insiders.

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.