GAMMA Investing LLC Increases Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

GAMMA Investing LLC lifted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 4,377.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,358 shares of the company's stock after purchasing an additional 3,283 shares during the period. GAMMA Investing LLC's holdings in Soleno Therapeutics were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Soleno Therapeutics by 14.5% in the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company's stock worth $35,163,000 after purchasing an additional 99,095 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Soleno Therapeutics by 23.6% in the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company's stock worth $988,000 after purchasing an additional 4,201 shares in the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Soleno Therapeutics by 296.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company's stock worth $5,637,000 after purchasing an additional 93,800 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth $13,451,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company's stock worth $1,236,000 after purchasing an additional 5,462 shares in the last quarter. 97.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the sale, the insider now owns 27,036 shares in the company, valued at $1,895,493.96. This trade represents a 12.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated 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 sale, the chief executive officer now owns 577,076 shares of the company's stock, valued at $39,021,879.12. The trade was a 54.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 942,672 shares of company stock worth $64,058,781. 6.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SLNO. Stifel Nicolaus increased their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Cantor Fitzgerald raised their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Laidlaw raised their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Piper Sandler raised their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $106.78.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $79.98 on Friday. The firm has a 50-day moving average price of $75.22 and a 200-day moving average price of $58.86. The firm has a market capitalization of $4.03 billion, a PE ratio of -17.31 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, Inc. has a 12-month low of $36.93 and a 12-month high of $81.54.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, equities research analysts forecast 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.