Woodline Partners LP Purchases 48,102 Shares of Soleno Therapeutics, Inc. $SLNO

Key Points

• Woodline Partners LP has increased its stake in Soleno Therapeutics by 16.0%, owning 349,664 shares valued at approximately $24.98 million, indicating growing institutional interest.
• Several analysts have reaffirmed buy ratings for Soleno Therapeutics, with target prices ranging from $106.00 to $123.00, reflecting positive market sentiment.
• Soleno Therapeutics recently reported earnings of ($0.09) per share, significantly beating estimates and achieving revenues of $32.66 million against projected revenues of just $3.91 million.

Woodline Partners LP raised its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 349,664 shares of the company's stock after buying an additional 48,102 shares during the period. Woodline Partners LP owned about 0.69% of Soleno Therapeutics worth $24,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. lifted its stake in shares of Soleno Therapeutics by 58.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company's stock valued at $313,858,000 after buying an additional 1,616,720 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 purchasing an additional 769,700 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Soleno Therapeutics by 37.4% during the first quarter. Westfield Capital Management Co. LP now owns 1,211,245 shares of the company's stock valued at $86,543,000 after purchasing an additional 329,785 shares in the last quarter. Vestal Point Capital LP lifted its position 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 purchasing an additional 340,000 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Soleno Therapeutics by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company's stock valued at $35,163,000 after purchasing an additional 99,095 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the transaction, the insider owned 13,206 shares of the company's stock, valued at $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 at this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock traded down $3.10 during midday trading on Friday, reaching $53.62. 3,249,912 shares of the stock were exchanged, compared to its average volume of 1,821,761. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32. The firm has a market cap of $2.85 billion, a PE ratio of -12.95 and a beta of -2.72. The company's fifty day moving average is $77.05 and its 200-day moving average is $71.82.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.44. The business had revenue of $32.66 million for the quarter, compared to the consensus estimate of $3.91 million. On average, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the topic of a number of recent analyst reports. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Wednesday. Oppenheimer raised their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Guggenheim reissued a "buy" rating and set a $106.00 price target on shares of Soleno Therapeutics in a research report on Wednesday, August 27th. Wall Street Zen raised shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Robert W. Baird set a $121.00 price objective on shares of Soleno Therapeutics and gave the stock an "outperform" rating in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $115.09.

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.