Trexquant Investment LP Takes Position in Soleno Therapeutics, Inc. $SLNO

Key Points

• Trexquant Investment LP purchased 16,899 shares of Soleno Therapeutics, Inc. ($SLNO) for approximately $1.2 million, marking a significant investment in the company during the first quarter.
• Institutional investors and hedge funds now own 97.42% of Soleno Therapeutics' stock, indicating strong backing from major financial entities.
• Soleno Therapeutics reported an earnings per share of ($0.09), significantly beating analyst expectations of ($0.53), highlighting potential for growth in revenue.

Trexquant Investment LP bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,899 shares of the company's stock, valued at approximately $1,207,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Moody Aldrich Partners LLC boosted its holdings in Soleno Therapeutics by 0.7% during the first quarter. Moody Aldrich Partners LLC now owns 29,810 shares of the company's stock worth $2,130,000 after buying an additional 196 shares in the last quarter. Avanza Fonder AB boosted its holdings in Soleno Therapeutics by 14.8% during the first quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock worth $144,000 after buying an additional 251 shares in the last quarter. AlphaQuest LLC boosted its holdings in Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company's stock worth $70,000 after buying an additional 268 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Soleno Therapeutics by 8.6% during the first quarter. SG Americas Securities LLC now owns 4,397 shares of the company's stock worth $314,000 after buying an additional 350 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in Soleno Therapeutics by 9.2% during the first quarter. Arizona State Retirement System now owns 7,380 shares of the company's stock worth $527,000 after buying an additional 620 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on SLNO shares. TD Cowen began coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating and a $110.00 target price for the company. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Wednesday. Wall Street Zen upgraded shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Oppenheimer upped their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company began coverage on shares of Soleno Therapeutics in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 price target for the company. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $115.09.

Soleno Therapeutics Stock Down 5.5%

SLNO stock traded down $3.10 during midday trading on Friday, reaching $53.62. The company had a trading volume of 3,249,912 shares, compared to its average volume of 1,821,761. Soleno Therapeutics, Inc. has a 1 year low of $41.50 and a 1 year high of $90.32. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.85 billion, a P/E ratio of -12.95 and a beta of -2.72. The company has a 50 day moving average of $77.05 and a two-hundred day moving average of $71.64.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The company had revenue of $32.66 million during the quarter, compared to analysts' expectations of $3.91 million. On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the transaction, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.40% of the company's stock.

Soleno Therapeutics Company 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.