Polar Asset Management Partners Inc. Grows Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Polar Asset Management Partners Inc. boosted its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 296.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,400 shares of the company's stock after purchasing an additional 93,800 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.29% of Soleno Therapeutics worth $5,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. AlphaQuest LLC raised its stake in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Avanza Fonder AB purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth $89,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SLNO. Stifel Nicolaus lifted their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Piper Sandler lifted their price target 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. Laidlaw upped their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $106.78.

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 577,076 shares of the company's stock, valued at $39,021,879.12. This represents a 54.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Trading Down 1.9%

Soleno Therapeutics stock traded down $1.41 during midday trading on Wednesday, hitting $73.65. The stock had a trading volume of 110,404 shares, compared to its average volume of 743,386. The firm's fifty day moving average is $67.38 and its two-hundred day moving average is $55.33. The company has a market capitalization of $3.71 billion, a PE ratio of -22.22 and a beta of -2.67. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99.

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. As a group, equities research analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

About Soleno Therapeutics

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.