Woodline Partners LP Sells 100,521 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Woodline Partners LP decreased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 301,562 shares of the company's stock after selling 100,521 shares during the quarter. Woodline Partners LP owned about 0.70% of Soleno Therapeutics worth $13,555,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the company's stock in a transaction 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the 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 disclosure for this sale can be found here. Insiders sold 942,672 shares of company stock worth $64,058,781 over the last three months. Insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald increased their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Guggenheim increased their price target on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $106.78.

Soleno Therapeutics Trading Down 0.9%

NASDAQ SLNO traded down $0.66 on Tuesday, hitting $76.23. 109,828 shares of the company's stock were exchanged, compared to its average volume of 993,718. The stock has a 50-day moving average of $69.44 and a 200-day moving average of $55.84. Soleno Therapeutics, Inc. has a 52 week low of $36.93 and a 52 week high of $80.99. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -23.02 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, 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.