Tri Locum Partners LP Purchases Shares of 234,920 Soleno Therapeutics, Inc. $SLNO

Key Points

• Tri Locum Partners LP has purchased 234,920 shares of Soleno Therapeutics, valued at approximately $16,785,000, making it the firm's third largest holding.
• Multiple institutional investors have increased their stakes in Soleno Therapeutics, highlighting strong interest in the company, which is now owned 97.42% by institutional investors.
• Analysts have set an average price target of $115.09 for Soleno Therapeutics, with a consensus rating of "Buy" from several research firms.

Tri Locum Partners LP purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 234,920 shares of the company's stock, valued at approximately $16,785,000. Soleno Therapeutics makes up approximately 8.6% of Tri Locum Partners LP's holdings, making the stock its 3rd largest holding. Tri Locum Partners LP owned about 0.47% of Soleno Therapeutics as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SLNO. Janus Henderson Group PLC boosted its stake in Soleno Therapeutics by 27.1% during the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after buying an additional 1,107,166 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Soleno Therapeutics by 47.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company's stock valued at $171,510,000 after acquiring an additional 769,700 shares during the period. Invesco Ltd. lifted its holdings in shares of Soleno Therapeutics by 3,789.4% during the first quarter. Invesco Ltd. now owns 467,193 shares of the company's stock valued at $33,381,000 after acquiring an additional 455,181 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Soleno Therapeutics during the first quarter valued at $31,046,000. Finally, Vestal Point Capital LP lifted its holdings in shares of Soleno Therapeutics by 47.2% during the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company's stock valued at $47,647,000 after acquiring an additional 340,000 shares during the period. Institutional investors and hedge funds own 97.42% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on SLNO shares. Oppenheimer lifted their price objective on Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the company an "outperform" rating in a report on Friday, July 11th. Guggenheim reissued a "buy" rating and set a $106.00 price objective on shares of Soleno Therapeutics in a report on Wednesday. Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Cowen reissued a "buy" rating on shares of Soleno Therapeutics in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of "Buy" and an average price target of $115.09.

Insider Activity

In other news, insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction 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. The trade was a 22.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.40% of the company's stock.

Soleno Therapeutics Price Performance

Shares of SLNO stock opened at $67.68 on Thursday. The stock has a 50-day moving average price of $81.33 and a 200 day moving average price of $70.18. The company has a quick ratio of 15.01, a current ratio of 15.13 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -16.35 and a beta of -2.56. Soleno Therapeutics, Inc. has a 12 month low of $41.50 and a 12 month high of $90.32.

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

Want to see what other hedge funds are holding SLNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.