Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by Vestal Point Capital LP

Vestal Point Capital LP lifted its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 47.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,060,000 shares of the company's stock after buying an additional 340,000 shares during the quarter. Soleno Therapeutics makes up about 2.8% of Vestal Point Capital LP's portfolio, making the stock its 9th biggest position. Vestal Point Capital LP owned 2.46% of Soleno Therapeutics worth $47,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tang Capital Management LLC purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth approximately $2,248,000. Tema Etfs LLC bought a new position in Soleno Therapeutics in the fourth quarter worth approximately $592,000. Toronto Dominion Bank bought a new position in Soleno Therapeutics in the fourth quarter worth approximately $1,165,000. Rafferty Asset Management LLC grew its stake in Soleno Therapeutics by 17.4% in the fourth quarter. Rafferty Asset Management LLC now owns 66,480 shares of the company's stock worth $2,988,000 after purchasing an additional 9,847 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its stake in Soleno Therapeutics by 296.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company's stock worth $5,637,000 after purchasing an additional 93,800 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The stock was 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 of the company's stock, valued at approximately $3,811,504.48. This represents a 69.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 942,672 shares of company stock valued at $64,058,781 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Stock Up 4.1%

Shares of Soleno Therapeutics stock traded up $3.00 during trading on Friday, reaching $76.89. The company's stock had a trading volume of 474,984 shares, compared to its average volume of 747,294. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -23.16 and a beta of -2.67. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.99. The company has a 50-day simple moving average of $68.88 and a two-hundred day simple moving average of $55.72.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. As a group, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

SLNO has been the topic of several research analyst reports. Robert W. Baird increased their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Piper Sandler increased their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. UBS Group set a $105.00 target price on Soleno Therapeutics in a research report on Thursday, March 27th. Laidlaw increased their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price 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.