Westfield Capital Management Co. LP Acquires 329,785 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Key Points

• Westfield Capital Management Co. LP increased its stake in Soleno Therapeutics by 37.4% in Q1, now owning over 1.2 million shares valued at approximately $86.5 million.
• Insider Patricia C. Hirano sold 3,830 shares of Soleno, reducing her stake by 22.48%, following a significant sale at an average price of $82.76 per share.
• Analysts have a consensus price target of $108.70 for Soleno Therapeutics, with multiple firms issuing "buy" ratings and price targets ranging from $97.00 to $121.00.

Westfield Capital Management Co. LP raised its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 37.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,211,245 shares of the company's stock after purchasing an additional 329,785 shares during the quarter. Westfield Capital Management Co. LP owned 2.43% of Soleno Therapeutics worth $86,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics during the 4th quarter worth $81,000. Summit Investment Advisors Inc. boosted its holdings in Soleno Therapeutics by 24.2% during 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. Avanza Fonder AB boosted its holdings in Soleno Therapeutics by 14.8% during the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock worth $144,000 after acquiring an additional 251 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Soleno Therapeutics during the 4th quarter worth $193,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Soleno Therapeutics by 811.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company's stock worth $193,000 after buying an additional 3,832 shares during the last quarter. Institutional investors own 97.42% of the company's stock.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,830 shares of the company'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 sale, the insider directly owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLNO. TD Cowen began coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating and a $110.00 price target on the stock. Wall Street Zen raised shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird set a $121.00 price target on shares of Soleno Therapeutics and gave the stock an "outperform" rating in a report on Friday, July 11th. HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Finally, Guggenheim boosted their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $108.70.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $86.00 on Monday. The company has a market cap of $4.33 billion, a PE ratio of -18.61 and a beta of -2.56. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32. The company has a quick ratio of 19.64, a current ratio of 19.64 and a debt-to-equity ratio of 0.21. The firm's 50-day simple moving average is $82.06 and its two-hundred day simple moving average is $67.18.

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

Soleno Therapeutics 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.

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.