Union Square Park Capital Management LLC Makes New $2.25 Million Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Union Square Park Capital Management LLC bought 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 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 holdings, 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 large investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after purchasing an additional 1,107,166 shares during the period. Nantahala Capital Management LLC boosted its stake in Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock worth $176,607,000 after purchasing an additional 658,518 shares during the period. Avoro Capital Advisors LLC boosted its stake in Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock worth $113,499,000 after purchasing an additional 344,000 shares during the period. Vanguard Group Inc. boosted its stake in Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock worth $84,710,000 after purchasing an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Soleno Therapeutics by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after purchasing an additional 321,223 shares during the period. Institutional investors and hedge funds own 97.42% of the company's stock.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction on 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the sale, the insider now directly owns 55,789 shares in the company, valued at approximately $3,811,504.48. This trade represents a 69.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 942,672 shares of company stock worth $64,058,781. Insiders own 12.30% of the company's stock.

Soleno Therapeutics Trading Up 4.1%

Shares of Soleno Therapeutics stock traded up $3.00 during mid-day trading on Friday, hitting $76.89. 474,984 shares of the stock were exchanged, compared to its average volume of 749,080. Soleno Therapeutics, Inc. has a twelve month low of $36.93 and a twelve month high of $80.99. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -23.16 and a beta of -2.67. The company has a 50-day simple moving average of $68.88 and a 200 day simple moving average of $55.71.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its 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. Equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim upped their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research 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 report on Tuesday, April 15th. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a report on Thursday, March 27th. Finally, Piper Sandler raised their target price 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $106.78.

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.