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

Union Square Park Capital Management LLC bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,000 shares of the company's stock, valued at approximately $2,248,000. Soleno Therapeutics makes up 1.4% of Union Square Park Capital Management LLC's portfolio, making the stock its 20th largest position. Union Square Park Capital Management LLC owned 0.12% of Soleno Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Corebridge Financial Inc. grew its stake in shares of Soleno Therapeutics by 2.9% in the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock worth $572,000 after purchasing an additional 357 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after acquiring an additional 522 shares during the last quarter. AlphaQuest LLC raised its holdings in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE purchased a new stake in Soleno Therapeutics during the 4th quarter valued at $34,000. Finally, Alliancebernstein L.P. raised its stake in Soleno Therapeutics by 3.5% during the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company's stock valued at $1,070,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Activity at Soleno Therapeutics

In related news, Director Matthew Pauls sold 5,937 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $465,075. This represents a 47.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the transaction, the insider now directly owns 27,036 shares in the company, valued at $1,895,493.96. This represents a 12.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLNO. Laidlaw increased their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a research note on Thursday, March 27th. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Robert W. Baird lifted their price target on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Piper Sandler lifted their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $106.78.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $75.58 on Tuesday. The firm's fifty day moving average price is $66.86 and its 200 day moving average price is $55.19. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -22.77 and a beta of -2.67. Soleno Therapeutics, Inc. has a 12 month low of $36.93 and a 12 month high of $80.99.

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. As a group, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share 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.

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