Atle Fund Management AB Has $2.65 Million Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Atle Fund Management AB increased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,098 shares of the company's stock after purchasing an additional 6,158 shares during the quarter. Soleno Therapeutics makes up 1.2% of Atle Fund Management AB's portfolio, making the stock its 25th largest holding. Atle Fund Management AB owned approximately 0.07% of Soleno Therapeutics worth $2,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLNO. AlphaQuest LLC increased its stake in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after buying an additional 658 shares in the last quarter. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at $81,000. Summit Investment Advisors Inc. increased its stake 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 buying an additional 522 shares in the last quarter. Avanza Fonder AB increased its stake in shares of Soleno Therapeutics by 14.8% in the first quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock valued at $144,000 after buying an additional 251 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Soleno Therapeutics in the fourth quarter worth about $193,000. 97.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLNO. Laidlaw lifted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Cowen began coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They issued a "buy" rating for the company. HC Wainwright reiterated a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Cantor Fitzgerald lifted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Finally, Robert W. Baird raised their target price on Soleno Therapeutics from $105.00 to $121.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics currently has an average rating of "Buy" and an average target price of $108.70.

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 of the company's stock, valued at $1,092,928.56. The trade was a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.40% of the company's stock.

Soleno Therapeutics Stock Down 1.1%

NASDAQ SLNO traded down $0.95 during trading on Tuesday, hitting $86.02. The stock had a trading volume of 977,271 shares, compared to its average volume of 858,798. The company has a market capitalization of $4.33 billion, a PE ratio of -18.62 and a beta of -2.63. The company's 50-day moving average price is $79.81 and its two-hundred day moving average price is $64.30. 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, Inc. has a 12 month low of $41.50 and a 12 month high of $90.32.

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, beating the consensus estimate of ($1.14) by $0.19. As a group, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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.