Rafferty Asset Management LLC Boosts Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Rafferty Asset Management LLC lifted its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,480 shares of the company's stock after buying an additional 9,847 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.15% of Soleno Therapeutics worth $2,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC raised its holdings in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares during the period. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth approximately $34,000. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth approximately $81,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth approximately $89,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SLNO. UBS Group set a $105.00 price objective on Soleno Therapeutics in a report on Thursday, March 27th. Cantor Fitzgerald raised their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Robert W. Baird raised their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, HC Wainwright restated a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $106.78.

Soleno Therapeutics Stock Up 4.1%

Shares of Soleno Therapeutics stock traded up $3.00 during trading on Friday, reaching $76.89. The company's stock had a trading volume of 474,984 shares, compared to its average volume of 749,080. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -23.16 and a beta of -2.67. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.99. The company has a 50-day simple moving average of $68.88 and a two-hundred day simple moving average of $55.70.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. As a group, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The stock was 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. The trade was a 54.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Pauls sold 5,937 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now directly owns 6,500 shares of the company's stock, valued at approximately $465,075. This trade represents a 47.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is owned by company insiders.

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.