Emerald Mutual Fund Advisers Trust Buys 135,566 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Emerald Mutual Fund Advisers Trust increased its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 58.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 368,574 shares of the company's stock after buying an additional 135,566 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.85% of Soleno Therapeutics worth $16,567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Corebridge Financial Inc. raised its holdings in shares of Soleno Therapeutics by 2.9% during the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock worth $572,000 after acquiring an additional 357 shares during the period. Summit Investment Advisors Inc. raised its stake in shares of Soleno Therapeutics by 24.2% in the 4th 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 period. AlphaQuest LLC lifted its holdings 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 in the last quarter. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth about $34,000. Finally, Alliancebernstein L.P. grew its holdings in shares of 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. 97.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Cantor Fitzgerald increased their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Stifel Nicolaus lifted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Laidlaw increased their price objective 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, Piper Sandler lifted their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and a consensus price target of $104.67.

Insider Activity

In other news, CEO Bhatnagar Anish sold 699,095 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the sale, the insider now owns 55,789 shares in the company, valued at $3,811,504.48. This represents a 69.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 942,672 shares of company stock worth $64,058,781. Corporate insiders own 12.30% of the company's stock.

Soleno Therapeutics Trading Up 0.3 %

Shares of SLNO traded up $0.21 during mid-day trading on Friday, reaching $75.23. The company's stock had a trading volume of 424,080 shares, compared to its average volume of 729,255. The business has a 50-day simple moving average of $59.67 and a two-hundred day simple moving average of $53.46. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $76.56. The stock has a market cap of $3.75 billion, a P/E ratio of -22.66 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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.