Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Sold by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. trimmed its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 699,159 shares of the company's stock after selling 176,508 shares during the period. Soleno Therapeutics comprises about 1.3% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 19th biggest position. Frazier Life Sciences Management L.P. owned about 1.62% of Soleno Therapeutics worth $31,427,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. AlphaQuest LLC increased its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $34,000. Avanza Fonder AB purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $81,000. Finally, Avior Wealth Management LLC purchased a new stake in Soleno Therapeutics in the 4th quarter valued at approximately $89,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the business'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 owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the sale, the insider now owns 55,789 shares of the company's stock, valued at $3,811,504.48. This represents a 69.75% 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 quarter. 12.30% of the stock is owned by insiders.

Soleno Therapeutics Trading Up 4.1%

SLNO traded up $3.00 during midday trading on Monday, hitting $76.89. The company's stock had a trading volume of 474,984 shares, compared to its average volume of 749,080. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99. The firm has a 50-day moving average price of $68.88 and a two-hundred day moving average price of $55.70. The firm has a market cap of $3.87 billion, a P/E ratio of -23.16 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) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Piper Sandler boosted their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Stifel Nicolaus raised their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of "Buy" and a consensus price target of $106.78.

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.