GAMMA Investing LLC Buys 3,283 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

GAMMA Investing LLC grew its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 4,377.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,358 shares of the company's stock after purchasing an additional 3,283 shares during the quarter. GAMMA Investing LLC's holdings in Soleno Therapeutics were worth $240,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. AlphaQuest LLC raised its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE bought a new position in shares of Soleno Therapeutics during the 4th quarter worth about $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Soleno Therapeutics during the fourth quarter valued at about $81,000. Summit Investment Advisors Inc. lifted its stake in shares of Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after buying an additional 522 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $193,000. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Price Performance

SLNO stock traded up $1.62 during trading on Wednesday, hitting $85.79. The company had a trading volume of 996,059 shares, compared to its average volume of 784,428. The company has a fifty day moving average price of $75.73 and a two-hundred day moving average price of $59.33. Soleno Therapeutics, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $86.61. The company has a market cap of $4.32 billion, a P/E ratio of -18.57 and a beta of -2.69. The company has a current ratio of 19.64, a quick ratio of 19.64 and a debt-to-equity ratio of 0.21.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.19. Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLNO. Cantor Fitzgerald boosted their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Guggenheim lifted 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. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Piper Sandler raised their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a report on Friday, March 28th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $107.10.

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 699,095 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This trade represents a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Patricia C. Hirano sold 128,653 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the transaction, the insider now directly owns 55,789 shares in the company, valued at $3,811,504.48. The trade was a 69.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 942,672 shares of company stock valued at $64,058,781 in the last ninety days. Insiders own 6.40% of the company's stock.

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.