Tema Etfs LLC Purchases Shares of 13,178 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Tema Etfs LLC purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,178 shares of the company's stock, valued at approximately $592,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after buying an additional 658 shares during the period. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth approximately $34,000. Avanza Fonder AB acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics during the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC acquired a new position in Soleno Therapeutics in the 4th quarter valued at approximately $89,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Bhatnagar Anish sold 699,095 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the transaction, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This trade represents a 54.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James H. Mackaness sold 90,622 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.44, for a total value of $6,292,791.68. Following the completion of the transaction, the chief financial officer now owns 105,176 shares in the company, valued at $7,303,421.44. This represents a 46.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 over the last 90 days. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Stock Up 1.3%

Soleno Therapeutics stock traded up $0.95 on Friday, hitting $74.84. The company's stock had a trading volume of 128,391 shares, compared to its average volume of 999,216. The company has a fifty day moving average price of $68.35 and a 200-day moving average price of $55.57. The firm has a market cap of $3.77 billion, a P/E ratio of -22.54 and a beta of -2.67. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly 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. Analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research reports. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Robert W. Baird boosted their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler raised their price target on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Finally, Guggenheim lifted their target price on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Soleno Therapeutics presently has an average rating of "Buy" and a consensus target price of $106.78.

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.