Alyeska Investment Group L.P. boosted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 24.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 529,209 shares of the company's stock after purchasing an additional 105,128 shares during the quarter. Alyeska Investment Group L.P. owned approximately 1.05% of Soleno Therapeutics worth $37,812,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Soleno Therapeutics by 17.8% during the fourth quarter. Northern Trust Corp now owns 226,889 shares of the company's stock valued at $10,199,000 after buying an additional 34,309 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Soleno Therapeutics by 25.9% in the 4th quarter. Ameriprise Financial Inc. now owns 35,106 shares of the company's stock worth $1,578,000 after acquiring an additional 7,223 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Soleno Therapeutics in the 4th quarter worth approximately $3,206,000. Crestline Management LP bought a new position in shares of Soleno Therapeutics during the 4th quarter valued at approximately $582,000. Finally, Deutsche Bank AG boosted its holdings in Soleno Therapeutics by 44.8% during the 4th quarter. Deutsche Bank AG now owns 119,455 shares of the company's stock valued at $5,370,000 after acquiring an additional 36,971 shares during the period. 97.42% of the stock is currently owned by institutional investors.
Insider Transactions at Soleno Therapeutics
In related news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the sale, the insider owned 13,206 shares of the company's stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.40% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Oppenheimer upped their price objective on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. HC Wainwright reaffirmed a "buy" rating and set a $110.00 target price (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Guggenheim reiterated a "buy" rating and set a $106.00 price target on shares of Soleno Therapeutics in a research report on Wednesday, August 27th. Wells Fargo & Company assumed coverage on Soleno Therapeutics in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 target price on the stock. Finally, Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $115.09.
Read Our Latest Research Report on SLNO
Soleno Therapeutics Stock Performance
Shares of SLNO traded up $0.20 during midday trading on Friday, reaching $69.77. 631,395 shares of the stock were exchanged, compared to its average volume of 1,584,567. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -16.85 and a beta of -2.72. Soleno Therapeutics, Inc. has a twelve month low of $41.50 and a twelve month high of $90.32. The business's 50-day moving average price is $79.31 and its 200 day moving average price is $71.24. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.44. The company had revenue of $32.66 million during the quarter, compared to analyst estimates of $3.91 million. On average, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.
Soleno Therapeutics Profile
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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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