BNP Paribas Financial Markets Acquires Shares of 71,320 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

BNP Paribas Financial Markets acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 71,320 shares of the company's stock, valued at approximately $3,206,000. BNP Paribas Financial Markets owned approximately 0.17% of Soleno Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Corebridge Financial Inc. raised its holdings in shares of Soleno Therapeutics by 2.9% during the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock valued at $572,000 after acquiring an additional 357 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Soleno Therapeutics by 24.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after purchasing an additional 522 shares during the last quarter. AlphaQuest LLC grew its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in Soleno Therapeutics in the 4th quarter worth approximately $34,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Soleno Therapeutics by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company's stock valued at $1,070,000 after purchasing an additional 800 shares during the last quarter. 97.42% of the stock is owned by hedge funds and other institutional investors.

Soleno Therapeutics Stock Down 0.3%

Soleno Therapeutics stock traded down $0.19 during trading on Wednesday, reaching $74.86. The stock had a trading volume of 27,232 shares, compared to its average volume of 743,054. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99. The stock has a market cap of $3.77 billion, a PE ratio of -22.50 and a beta of -2.67. The business has a 50 day moving average price of $67.38 and a 200 day moving average price of $55.33.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. On average, equities analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the transaction, the director now owns 6,500 shares of the company's stock, valued at $465,075. This represents a 47.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Patricia C. Hirano sold 3,782 shares of the company'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 sale, the insider now owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. The trade was a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 942,672 shares of company stock valued at $64,058,781. Insiders own 12.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SLNO. Piper Sandler boosted their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Laidlaw boosted their price objective 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. Guggenheim lifted their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. UBS Group set a $105.00 target price on Soleno Therapeutics in a research report on Thursday, March 27th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $106.78.

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.