Ally Bridge Group NY LLC Grows Position in Soleno Therapeutics, Inc. $SLNO

Key Points

• Ally Bridge Group NY LLC increased its stake in Soleno Therapeutics by 37.5% during the first quarter, owning approximately 0.24% of the company valued at $8.6 million.
• Soleno Therapeutics reported $32.66 million in revenue for the last quarter, significantly surpassing analyst expectations of $3.91 million, and posted an EPS of ($0.09) against an expected ($0.53).
• Research analysts generally maintain a Buy rating for Soleno Therapeutics, with an average target price of $115.09, following recent upgrades from various financial institutions.

Ally Bridge Group NY LLC grew its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 37.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,449 shares of the company's stock after acquiring an additional 32,820 shares during the quarter. Soleno Therapeutics accounts for 7.7% of Ally Bridge Group NY LLC's portfolio, making the stock its 4th biggest holding. Ally Bridge Group NY LLC owned about 0.24% of Soleno Therapeutics worth $8,606,000 as of its most recent filing with the Securities and Exchange Commission.

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

Soleno Therapeutics Stock Down 0.7%

Soleno Therapeutics stock opened at $67.22 on Wednesday. The stock has a market cap of $3.57 billion, a PE ratio of -16.24 and a beta of -2.72. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. Soleno Therapeutics, Inc. has a one year low of $41.50 and a one year high of $90.32. The stock has a fifty day moving average of $80.25 and a 200 day moving average of $70.81.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.44. The firm had revenue of $32.66 million for the quarter, compared to analysts' expectations of $3.91 million. As a group, sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 6.40% of the stock is currently owned by insiders.

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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