DRW Securities LLC Makes New Investment in Soleno Therapeutics, Inc. $SLNO

Key Points

• DRW Securities LLC has acquired a new stake in Soleno Therapeutics, purchasing 14,761 shares valued at approximately $1,055,000.
• Prominent institutional investors such as Janus Henderson Group and Price T Rowe Associates significantly increased their holdings, reflecting strong external interest in Soleno Therapeutics.
• Soleno Therapeutics recently reported a quarterly earnings per share of ($0.09), exceeding expectations, along with revenues of $32.66 million for the quarter.

DRW Securities LLC bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 14,761 shares of the company's stock, valued at approximately $1,055,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its stake 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 in the last quarter. Avanza Fonder AB boosted its stake 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Soleno Therapeutics by 811.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company's stock worth $193,000 after acquiring an additional 3,832 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Soleno Therapeutics during the 1st quarter worth approximately $232,000. Finally, GAMMA Investing LLC boosted its stake 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 in the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

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 Analysts Forecast Growth

Several brokerages have recently commented on SLNO. TD Cowen began coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They set a "buy" rating and a $110.00 price target on the stock. Oppenheimer boosted their price target on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Soleno Therapeutics in a research note on Thursday, August 7th. Guggenheim reissued a "buy" rating and set a $106.00 price target on shares of Soleno Therapeutics in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company began coverage on Soleno Therapeutics in a research note on Wednesday, August 20th. They set an "overweight" rating and a $123.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $115.09.

Soleno Therapeutics Price Performance

SLNO stock traded down $0.28 on Wednesday, reaching $66.94. The company had a trading volume of 1,020,962 shares, compared to its average volume of 1,595,372. Soleno Therapeutics, Inc. has a 1 year low of $41.50 and a 1 year high of $90.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. The company's fifty day moving average is $79.87 and its 200 day moving average is $70.78. The company has a market cap of $3.56 billion, a P/E ratio of -16.17 and a beta of -2.72.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results 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 company had revenue of $32.66 million during the quarter, compared to analysts' expectations of $3.91 million. On average, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

About Soleno Therapeutics

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.