Checkpoint Capital L.P. Has $12.35 Million Stock Holdings in Soleno Therapeutics, Inc. $SLNO

Key Points

• Checkpoint Capital L.P. increased its stake in Soleno Therapeutics by 146.9%, now holding approximately 172,902 shares worth $12.35 million, making it 6.8% of their portfolio.
• Insider Patricia C. Hirano sold 3,830 shares at an average price of $82.76, reducing her ownership by 22.48%.
• Wall Street analysts have a consensus rating of "Buy" for SLNO shares, with an average price target of $115.09.

Checkpoint Capital L.P. lifted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 146.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 172,902 shares of the company's stock after acquiring an additional 102,875 shares during the period. Soleno Therapeutics makes up 6.8% of Checkpoint Capital L.P.'s investment portfolio, making the stock its 4th biggest position. Checkpoint Capital L.P. owned about 0.34% of Soleno Therapeutics worth $12,354,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SLNO. AlphaQuest LLC lifted its holdings in shares of Soleno Therapeutics by 37.5% during the 1st quarter. AlphaQuest LLC now owns 983 shares of the company's stock worth $70,000 after acquiring an additional 268 shares during the last quarter. Quarry LP bought a new stake in shares of Soleno Therapeutics during the 1st quarter worth $121,000. Avanza Fonder AB lifted its holdings in shares of Soleno Therapeutics by 14.8% during the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock worth $144,000 after acquiring an additional 251 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Soleno Therapeutics during the 1st quarter worth $232,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Soleno Therapeutics by 4,377.3% during the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after acquiring an additional 3,283 shares during the last quarter. 97.42% of the stock is owned by institutional investors.

Insider Activity

In other Soleno Therapeutics 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 transaction, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.40% of the company's stock.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research analyst reports. Guggenheim reaffirmed a "buy" rating and set a $106.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, August 27th. Wells Fargo & Company initiated coverage on shares of Soleno Therapeutics in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 price target for the company. Wall Street Zen raised shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Oppenheimer boosted their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $110.00 price target (up from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $115.09.

Soleno Therapeutics Price Performance

SLNO stock opened at $66.94 on Thursday. The firm's 50-day moving average price is $79.87 and its two-hundred day moving average price is $70.78. Soleno Therapeutics, Inc. has a 12-month low of $41.50 and a 12-month high of $90.32. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -16.17 and a beta of -2.72. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21.

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

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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