Emerald Mutual Fund Advisers Trust Acquires 3,123 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Emerald Mutual Fund Advisers Trust grew its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,697 shares of the company's stock after acquiring an additional 3,123 shares during the period. Soleno Therapeutics accounts for 1.9% of Emerald Mutual Fund Advisers Trust's holdings, making the stock its 7th biggest holding. Emerald Mutual Fund Advisers Trust owned about 0.74% of Soleno Therapeutics worth $26,558,000 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 SLNO. Moody Aldrich Partners LLC raised its holdings in shares of Soleno Therapeutics by 0.7% during the first quarter. Moody Aldrich Partners LLC now owns 29,810 shares of the company's stock worth $2,130,000 after purchasing an additional 196 shares during the last quarter. Avanza Fonder AB raised its stake in 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. SG Americas Securities LLC raised its stake in shares of Soleno Therapeutics by 8.6% in the 1st quarter. SG Americas Securities LLC now owns 4,397 shares of the company's stock valued at $314,000 after acquiring an additional 350 shares during the period. Corebridge Financial Inc. raised its stake in shares of Soleno Therapeutics by 2.9% in the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock valued at $572,000 after acquiring an additional 357 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after purchasing an additional 522 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SLNO shares. TD Cowen began coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating and a $110.00 price target for the company. Cantor Fitzgerald upped their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Guggenheim upped their target price on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Robert W. Baird set a $121.00 target price on shares of Soleno Therapeutics and gave the company an "outperform" rating in a report on Friday. Finally, Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a report 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. According to data from MarketBeat.com, Soleno Therapeutics presently has an average rating of "Buy" and an average price target of $108.70.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded up $0.83 during trading hours on Tuesday, reaching $83.59. The company's stock had a trading volume of 1,960,023 shares, compared to its average volume of 837,474. The stock has a market cap of $4.21 billion, a PE ratio of -18.09 and a beta of -2.63. Soleno Therapeutics, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The company's 50-day moving average is $78.97 and its two-hundred day moving average is $63.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly 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. Analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction dated 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 directly owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.40% of the stock is currently owned by insiders.

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.