Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP grew its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 98.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,422 shares of the company's stock after acquiring an additional 49,422 shares during the quarter. Readystate Asset Management LP owned approximately 0.20% of Soleno Therapeutics worth $7,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Springhill Fund Asset Management HK Co Ltd bought a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $81,000. Avanza Fonder AB increased its holdings 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 acquiring an additional 251 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after acquiring an additional 522 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $232,000. Finally, GAMMA Investing LLC increased its holdings 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 acquiring an additional 3,283 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Stock Performance

SLNO stock traded down $1.56 during trading on Friday, reaching $86.47. 790,648 shares of the company's stock were exchanged, compared to its average volume of 1,056,669. The company has a quick ratio of 19.64, a current ratio of 19.64 and a debt-to-equity ratio of 0.21. Soleno Therapeutics, Inc. has a 1-year low of $41.50 and a 1-year high of $90.32. The company's fifty day moving average price is $80.79 and its 200-day moving average price is $65.18. The firm has a market cap of $4.36 billion, a PE ratio of -18.72 and a beta of -2.63.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Laidlaw boosted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Robert W. Baird upped their price objective on Soleno Therapeutics from $105.00 to $121.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. TD Cowen initiated coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They set a "buy" rating and a $110.00 price objective for the company. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research note on Thursday, March 27th. Finally, Cantor Fitzgerald upped their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $108.70.

Insider Transactions at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company 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.