Bryce Point Capital LLC Sells 10,559 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Key Points

• Bryce Point Capital LLC decreased its stake in Soleno Therapeutics, Inc. by 76.5%, selling 10,559 shares during the 1st quarter, leaving them with 3,243 shares valued at approximately $233,000.
• Insider Patricia C. Hirano sold 3,830 shares at an average price of $82.76, resulting in a total value of $316,970.80 and decreasing her position by 22.48%.
• Analysts have issued a positive outlook on Soleno Therapeutics, with an average price target of $108.70, and several top firms rating the stock as a "buy."

Bryce Point Capital LLC cut its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 76.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,243 shares of the company's stock after selling 10,559 shares during the quarter. Bryce Point Capital LLC's holdings in Soleno Therapeutics were worth $233,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Moody Aldrich Partners LLC increased its position in shares of Soleno Therapeutics by 0.7% in the 1st quarter. Moody Aldrich Partners LLC now owns 29,810 shares of the company's stock valued at $2,130,000 after buying an additional 196 shares in the last quarter. Avanza Fonder AB raised its position 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 worth $144,000 after purchasing an additional 251 shares during the period. SG Americas Securities LLC increased its stake in Soleno Therapeutics by 8.6% during the 1st quarter. SG Americas Securities LLC now owns 4,397 shares of the company's stock worth $314,000 after purchasing an additional 350 shares in the last quarter. Corebridge Financial Inc. increased its stake in Soleno Therapeutics by 2.9% during the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock worth $572,000 after purchasing an additional 357 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased 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 in the last quarter. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Performance

Shares of SLNO stock traded up $1.77 during midday trading on Thursday, hitting $86.64. 633,578 shares of the company were exchanged, compared to its average volume of 1,057,142. The firm has a market capitalization of $4.37 billion, a P/E ratio of -18.75 and a beta of -2.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64. The firm's 50 day moving average price is $81.62 and its two-hundred day moving average price is $66.30. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. As a group, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

SLNO has been the subject of a number of research reports. Guggenheim increased their price objective on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Cowen started coverage on Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating for the company. Piper Sandler raised their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. TD Cowen initiated coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating and a $110.00 target price for the company. Finally, Wall Street Zen raised shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $108.70.

Insider Transactions at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company's stock, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.40% of the stock is owned by company insiders.

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.