F m Investments LLC Sells 25,859 Shares of Soleno Therapeutics, Inc. $SLNO

Key Points

• F m Investments LLC cut its Soleno Therapeutics stake by 46.4% in the fourth quarter, selling 25,859 shares and leaving it with 29,871 shares valued at about $1.38 million.
• Several analysts turned more cautious on SLNO, with multiple firms downgrading the stock and reducing price targets; the consensus rating is now Hold with an average target of $76.67.
• Soleno Therapeutics reported strong quarterly results, posting $0.80 EPS versus the $0.64 estimate and revenue of $91.73 million, while institutional investors continue to own 97.42% of the company.

F m Investments LLC lessened its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 46.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,871 shares of the company's stock after selling 25,859 shares during the period. F m Investments LLC owned 0.06% of Soleno Therapeutics worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Soleno Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company's stock worth $1,242,000 after buying an additional 189 shares during the last quarter. Raymond James Financial Inc. bought a new position in Soleno Therapeutics during the second quarter worth $25,000. Avanza Fonder AB raised its stake in Soleno Therapeutics by 11.2% during the fourth quarter. Avanza Fonder AB now owns 3,195 shares of the company's stock worth $148,000 after buying an additional 323 shares during the last quarter. Principal Financial Group Inc. raised its stake in Soleno Therapeutics by 11.9% during the third quarter. Principal Financial Group Inc. now owns 3,197 shares of the company's stock worth $216,000 after buying an additional 340 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in Soleno Therapeutics by 2.4% during the third quarter. New York State Common Retirement Fund now owns 15,600 shares of the company's stock worth $1,055,000 after buying an additional 360 shares during the last quarter. Institutional investors own 97.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLNO. Cantor Fitzgerald downgraded shares of Soleno Therapeutics from an "overweight" rating to a "hold" rating and lowered their target price for the stock from $123.00 to $53.00 in a research note on Monday, April 6th. Oppenheimer decreased their price target on shares of Soleno Therapeutics from $110.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, March 18th. HC Wainwright downgraded shares of Soleno Therapeutics from a "buy" rating to a "hold" rating and decreased their price target for the company from $100.00 to $53.00 in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Finally, Lifesci Capital downgraded shares of Soleno Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of "Hold" and an average price target of $76.67.

Soleno Therapeutics Stock Performance

SLNO opened at $52.95 on Monday. Soleno Therapeutics, Inc. has a 1-year low of $29.43 and a 1-year high of $90.32. The company has a current ratio of 5.62, a quick ratio of 5.32 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.76 billion, a P/E ratio of 230.23 and a beta of -2.22. The company has a fifty day moving average price of $43.27 and a two-hundred day moving average price of $46.35.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.16. Soleno Therapeutics had a net margin of 33.70% and a return on equity of 22.85%. The firm had revenue of $91.73 million during the quarter, compared to the consensus estimate of $88.55 million. Analysts predict that Soleno Therapeutics, Inc. will post 3.67 EPS for the current fiscal year.

Soleno Therapeutics Profile

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company's scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company's lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.

Want to see what other hedge funds are holding SLNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.