TimesSquare Capital Management LLC Sells 133,174 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

TimesSquare Capital Management LLC reduced its position 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 Securities & Exchange Commission. The fund owned 206,600 shares of the company's stock after selling 133,174 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.41% of Soleno Therapeutics worth $14,762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its position 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 purchasing an additional 658 shares during the period. US Bancorp DE purchased a new position in Soleno Therapeutics during the 4th quarter valued at $34,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics during the 4th quarter valued at $81,000. Summit Investment Advisors Inc. increased 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 period. Finally, Avanza Fonder AB increased its position 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 period. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Stock Down 0.5%

SLNO stock traded down $0.44 during trading on Friday, hitting $87.20. 638,331 shares of the stock traded hands, compared to its average volume of 849,110. Soleno Therapeutics, Inc. has a 1 year low of $41.50 and a 1 year high of $90.32. The firm's 50 day moving average is $79.60 and its two-hundred day moving average is $63.75. The stock has a market cap 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 current ratio of 19.64 and a quick ratio of 19.64.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SLNO. HC Wainwright reissued a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. TD Cowen assumed coverage on shares of Soleno Therapeutics in a research report on Monday, June 23rd. They issued a "buy" rating and a $110.00 target price on the stock. Laidlaw upped 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. Piper Sandler upped their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, Cowen assumed coverage on shares of Soleno Therapeutics in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $108.70.

Insider Buying and Selling

In related news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the sale, the insider directly owned 13,206 shares of the company's stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.40% of the company's stock.

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.