Scientech Research LLC Has $830,000 Stake in Soleno Therapeutics, Inc. $SLNO

Scientech Research LLC grew its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 120.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,620 shares of the company's stock after acquiring an additional 6,351 shares during the period. Scientech Research LLC's holdings in Soleno Therapeutics were worth $830,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. AlphaQuest LLC increased its holdings in shares of Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company's stock worth $70,000 after purchasing an additional 268 shares during the period. Quarry LP bought a new position in shares of Soleno Therapeutics during the first quarter worth approximately $121,000. Avanza Fonder AB increased its holdings 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 worth $144,000 after purchasing an additional 251 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Soleno Therapeutics during the first quarter worth approximately $232,000. Finally, GAMMA Investing LLC increased its holdings 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 worth $240,000 after purchasing an additional 3,283 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLNO has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $110.00 target price (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Wells Fargo & Company started coverage on Soleno Therapeutics in a research note on Wednesday, August 20th. They set an "overweight" rating and a $123.00 target price for the company. Oppenheimer upped their target price on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Guggenheim restated a "buy" rating and set a $106.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, August 27th. Finally, Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $115.09.

Soleno Therapeutics Trading Down 5.5%

Shares of NASDAQ:SLNO traded down $3.10 during mid-day trading on Friday, reaching $53.62. 3,249,912 shares of the company's stock were exchanged, compared to its average volume of 1,821,761. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -12.95 and a beta of -2.72. The business's fifty day moving average price is $77.05 and its 200-day moving average price is $71.82. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. Soleno Therapeutics, Inc. has a twelve month low of $41.50 and a twelve month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The business had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. On average, research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the transaction, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.40% of the company's stock.

Soleno Therapeutics Company Profile

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.