Atle Fund Management AB Increases Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Atle Fund Management AB boosted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 19.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,098 shares of the company's stock after purchasing an additional 6,158 shares during the quarter. Soleno Therapeutics comprises 1.2% of Atle Fund Management AB's investment portfolio, making the stock its 25th biggest position. Atle Fund Management AB owned about 0.07% of Soleno Therapeutics worth $2,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLNO. AlphaQuest LLC increased its stake in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares during the period. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics in the fourth quarter worth about $81,000. Summit Investment Advisors Inc. grew its position in Soleno Therapeutics by 24.2% during the 4th 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 during the last quarter. Avanza Fonder AB boosted its stake in Soleno Therapeutics by 14.8% during the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock valued at $144,000 after purchasing an additional 251 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Soleno Therapeutics during the fourth quarter valued at $193,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Performance

Shares of SLNO stock traded down $0.44 during mid-day trading on Friday, hitting $87.20. 1,187,600 shares of the stock were exchanged, compared to its average volume of 856,334. The stock's fifty day simple moving average is $79.81 and its two-hundred day simple moving average is $64.17. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -18.87 and a beta of -2.63. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. On average, analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

SLNO has been the topic of several analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Cantor Fitzgerald increased their price objective 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. UBS Group set a $105.00 price objective on Soleno Therapeutics in a report on Thursday, March 27th. Guggenheim lifted their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $108.70.

Insider Activity 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 sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

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.