FORA Capital LLC Purchases Shares of 4,258 Soleno Therapeutics, Inc. $SLNO

Key Points

• FORA Capital LLC has made a new investment in Soleno Therapeutics, acquiring 4,258 shares valued at approximately $304,000 during the first quarter.
• Soleno Therapeutics reported a notable earnings surprise, with earnings per share at ($0.09), beating estimates by $0.44, and generating revenue of $32.66 million for the quarter.
• Equities analysts have set a positive outlook for Soleno Therapeutics, with multiple firms giving a buy rating and target prices as high as $123.00.

FORA Capital LLC acquired a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,258 shares of the company's stock, valued at approximately $304,000.

Several other hedge funds have also recently made changes to their positions in SLNO. AlphaQuest LLC raised its position in shares of Soleno Therapeutics by 37.5% in 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 grew its stake in shares of Soleno Therapeutics by 14.8% in the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock valued at $144,000 after buying an additional 251 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Soleno Therapeutics by 811.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company's stock valued at $193,000 after buying an additional 3,832 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Soleno Therapeutics in the 1st quarter valued at about $232,000. Finally, GAMMA Investing LLC grew its stake in shares of Soleno Therapeutics by 4,377.3% in the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock valued at $240,000 after buying an additional 3,283 shares during the period. 97.42% of the stock is 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 on 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 transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLNO. TD Cowen began coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating and a $110.00 target price for the company. 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 for the company. Oppenheimer boosted their target price 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 restated a "buy" rating on shares of Soleno Therapeutics in a research note on Thursday, August 7th. Finally, Robert W. Baird set a $121.00 price target on shares of Soleno Therapeutics and gave the stock an "outperform" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $115.09.

Soleno Therapeutics Stock Performance

SLNO stock traded down $0.74 during midday trading on Friday, reaching $67.67. 923,265 shares of the company's stock traded hands, compared to its average volume of 1,631,449. The company has a 50-day moving average price of $80.86 and a two-hundred day moving average price of $70.70. The firm has a market capitalization of $3.60 billion, a PE ratio of -16.35 and a beta of -2.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. 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 released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.53) by $0.44. The firm had revenue of $32.66 million for the quarter, compared to analysts' expectations of $3.91 million. As a group, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS 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.