Tang Capital Management LLC Acquires Shares of 50,000 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Tang Capital Management LLC bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,000 shares of the company's stock, valued at approximately $2,248,000. Tang Capital Management LLC owned approximately 0.12% of Soleno Therapeutics as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its position in shares of Soleno Therapeutics by 1,154.4% in 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 last quarter. US Bancorp DE purchased a new position in Soleno Therapeutics in the fourth quarter valued at $34,000. Avanza Fonder AB purchased a new position in Soleno Therapeutics in the fourth quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics in the fourth quarter valued at $81,000. Finally, Avior Wealth Management LLC acquired a new stake in Soleno Therapeutics in the fourth quarter valued at $89,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLNO shares. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Robert W. Baird upped their price target on Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Guggenheim raised their price objective 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 price objective 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. Eight 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 company presently has a consensus rating of "Buy" and an average price target of $106.78.

Soleno Therapeutics Stock Up 2.1%

SLNO traded up $1.55 during trading on Friday, hitting $75.44. 136,661 shares of the stock were exchanged, compared to its average volume of 745,136. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.99. The stock has a fifty day moving average price of $68.35 and a two-hundred day moving average price of $55.57. The firm has a market capitalization of $3.80 billion, a P/E ratio of -22.72 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. Analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insider Buying and Selling

In other Soleno Therapeutics news, VP Michael F. Huang sold 14,583 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the sale, the vice president now directly owns 36,817 shares of the company's stock, valued at $2,559,149.67. This represents a 28.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the sale, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at $39,021,879.12. The trade was a 54.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 in the last 90 days. Company insiders own 12.30% of the company's stock.

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.