Optimize Financial Inc Makes New $274,000 Investment in Soleno Therapeutics, Inc. $SLNO

Key Points

• Optimize Financial Inc has acquired 3,838 shares of Soleno Therapeutics, Inc., valued at approximately $274,000, indicating growing institutional interest in the company.
• Soleno Therapeutics reported earnings of ($0.09) per share, significantly exceeding analysts' expectations of ($0.53), with revenues reaching $32.66 million for the quarter.
• Despite recent declines in share price, analysts maintain a consensus “Buy” rating for Soleno Therapeutics, with a price target averaging $115.09 among multiple firms.

Optimize Financial Inc bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,838 shares of the company's stock, valued at approximately $274,000.

A number of other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC grew its stake in shares of Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company's stock valued at $70,000 after buying an additional 268 shares during the last quarter. Quarry LP bought a new position in shares of Soleno Therapeutics during the first quarter valued at about $121,000. Avanza Fonder AB grew its stake in shares of Soleno Therapeutics by 14.8% during the first 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 last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Soleno Therapeutics during the first quarter valued at about $232,000. Finally, GAMMA Investing LLC grew its stake in shares of Soleno Therapeutics by 4,377.3% during the first 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 last quarter. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Trading Down 5.5%

Shares of NASDAQ SLNO traded down $3.10 during trading hours on Friday, hitting $53.62. The company's stock had a trading volume of 3,249,912 shares, compared to its average volume of 1,821,761. 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 stock has a market cap of $2.85 billion, a price-to-earnings ratio of -12.95 and a beta of -2.72. Soleno Therapeutics, Inc. has a 12 month low of $41.50 and a 12 month high of $90.32. The business has a 50-day simple moving average of $77.05 and a 200-day simple moving average of $71.64.

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, topping the consensus estimate of ($0.53) by $0.44. The business had revenue of $32.66 million during the quarter, compared to the consensus estimate of $3.91 million. On average, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction dated 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 directly owned 13,206 shares of the company's stock, valued at $1,092,928.56. This trade represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the company an "outperform" rating in a research note on Friday, July 11th. Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. TD Cowen assumed coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They set a "buy" rating and a $110.00 price objective on the stock. Wells Fargo & Company assumed coverage on Soleno Therapeutics in a research note on Wednesday, August 20th. They set an "overweight" rating and a $123.00 price objective on the stock. Finally, Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $115.09.

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.