Artia Global Partners LP lifted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 80.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 494,424 shares of the company's stock after buying an additional 220,000 shares during the period. Soleno Therapeutics comprises approximately 7.9% of Artia Global Partners LP's investment portfolio, making the stock its biggest position. Artia Global Partners LP owned approximately 1.15% of Soleno Therapeutics worth $22,224,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC boosted its stake in 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 acquiring an additional 658 shares in the last quarter. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the fourth quarter valued at about $34,000. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics during the 4th quarter worth about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics in the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics during the fourth quarter valued at approximately $89,000. Institutional investors and hedge funds own 97.42% of the company's stock.
Analyst Ratings Changes
SLNO has been the topic of a number of analyst reports. Guggenheim restated a "buy" rating and issued a $81.00 target price (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Piper Sandler increased their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $104.67.
View Our Latest Stock Analysis on Soleno Therapeutics
Soleno Therapeutics Price Performance
NASDAQ:SLNO traded up $0.25 during mid-day trading on Friday, hitting $75.27. 187,607 shares of the company's stock were exchanged, compared to its average volume of 726,742. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $76.56. The business has a fifty day moving average price of $59.67 and a 200 day moving average price of $53.46. The company has a market cap of $3.76 billion, a PE ratio of -22.66 and a beta of -2.29.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). On average, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the transaction, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. The trade was a 69.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at $39,021,879.12. This represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 942,672 shares of company stock valued at $64,058,781. Insiders own 12.30% of the company's stock.
About Soleno Therapeutics
(
Free Report)
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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