Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. increased its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 296.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,400 shares of the company's stock after purchasing an additional 93,800 shares during the period. Polar Asset Management Partners Inc. owned 0.29% of Soleno Therapeutics worth $5,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in SLNO. Legal & General Group Plc boosted its holdings in shares of Soleno Therapeutics by 9.2% during the 4th quarter. Legal & General Group Plc now owns 23,471 shares of the company's stock worth $1,055,000 after purchasing an additional 1,983 shares during the last quarter. Barclays PLC raised its position in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company's stock valued at $2,652,000 after purchasing an additional 31,467 shares during the period. Emerald Advisers LLC lifted its stake in Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock worth $26,112,000 after acquiring an additional 267,585 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Soleno Therapeutics by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock valued at $9,779,000 after purchasing an additional 24,953 shares during the period. Finally, Sei Investments Co. boosted its position in Soleno Therapeutics by 47.0% in the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company's stock valued at $739,000 after buying an additional 5,258 shares during the period. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Stock Performance

SLNO stock traded down $2.38 on Friday, reaching $73.24. The company had a trading volume of 1,221,011 shares, compared to its average volume of 755,661. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99. The company's fifty day moving average is $71.51 and its 200 day moving average is $56.34. The company has a market cap of $3.69 billion, a P/E ratio of -22.06 and a beta of -2.67.

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

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the company's 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 directly owns 577,076 shares in the company, valued at $39,021,879.12. This represents a 54.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the sale, the insider now owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This represents a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock worth $64,058,781 in the last three months. Company insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research report on Thursday, March 27th. Laidlaw increased their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Guggenheim raised their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald boosted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $106.78.

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.