Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 39.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 206,600 shares of the company's stock after selling 133,174 shares during the period. TimesSquare Capital Management LLC owned about 0.41% of Soleno Therapeutics worth $14,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SLNO. AlphaQuest LLC boosted its position in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares during the period. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics in the fourth quarter worth $81,000. Summit Investment Advisors Inc. boosted its position 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 worth $120,000 after buying an additional 522 shares during the period. Finally, Avanza Fonder AB boosted its position 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 worth $144,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $82.76 on Tuesday. Soleno Therapeutics, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The stock'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 current ratio of 19.64 and a quick ratio of 19.64. The firm has a market cap of $4.17 billion, a P/E ratio of -17.91 and a beta of -2.63.

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Laidlaw raised their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research report on Thursday, March 27th. Cantor Fitzgerald lifted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. TD Cowen initiated coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They set a "buy" rating and a $110.00 price objective for the company. Finally, Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the company an "outperform" rating in a research report on Friday. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics has a consensus rating of "Buy" and a consensus target price of $108.70.

Insiders Place Their Bets

In other news, insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the transaction, the insider directly owned 13,206 shares in the company, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Soleno Therapeutics 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.

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