Samlyn Capital LLC Lowers Stock Position in Soleno Therapeutics, Inc. $SLNO

Key Points

• Samlyn Capital LLC has reduced its stake in Soleno Therapeutics by 49.5%, owning 190,882 shares worth approximately $13.6 million after the sale.
• Wall Street analysts maintain a positive outlook on Soleno Therapeutics, with a consensus price target of $115.09 and multiple firms setting target prices between $106.00 and $121.00.
• Soleno Therapeutics reported a revenue of $32.66 million in the last quarter, significantly exceeding analyst expectations of $3.91 million.

Samlyn Capital LLC cut its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 49.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 190,882 shares of the company's stock after selling 187,221 shares during the period. Samlyn Capital LLC owned 0.38% of Soleno Therapeutics worth $13,639,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SLNO. AlphaQuest LLC raised its position in shares of Soleno Therapeutics by 37.5% in the 1st quarter. AlphaQuest LLC now owns 983 shares of the company's stock worth $70,000 after acquiring an additional 268 shares in the last quarter. Quarry LP bought a new position in Soleno Therapeutics in the first quarter worth $121,000. Avanza Fonder AB lifted its position in Soleno Therapeutics by 14.8% during 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 during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Soleno Therapeutics in the 1st quarter worth approximately $232,000. Finally, GAMMA Investing LLC lifted its stake in shares of Soleno Therapeutics by 4,377.3% in the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after buying an additional 3,283 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Insider Activity at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 13,206 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 6.40% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the stock an "outperform" rating in a report on Friday, July 11th. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research report on Wednesday. Oppenheimer lifted their target price on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. Finally, Guggenheim reaffirmed a "buy" rating and set a $106.00 target price on shares of Soleno Therapeutics in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics presently has an average rating of "Buy" and a consensus target price of $115.09.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO traded down $3.29 during trading hours on Thursday, reaching $56.72. The company had a trading volume of 2,542,234 shares, compared to its average volume of 1,173,933. The firm has a market cap of $3.01 billion, a PE ratio of -13.70 and a beta of -2.72. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01. The business's 50 day moving average price is $78.31 and its 200-day moving average price is $71.50. Soleno Therapeutics, Inc. has a 1-year low of $41.50 and a 1-year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. Research 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.