Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 811.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,304 shares of the company's stock after purchasing an additional 3,832 shares during the quarter. Tower Research Capital LLC TRC's holdings in Soleno Therapeutics were worth $193,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SLNO. MetLife Investment Management LLC boosted its position in shares of Soleno Therapeutics by 21.7% during the 4th quarter. MetLife Investment Management LLC now owns 15,539 shares of the company's stock valued at $698,000 after acquiring an additional 2,767 shares during the last quarter. Nan Fung Group Holdings Ltd raised its stake in Soleno Therapeutics by 24.6% during the fourth quarter. Nan Fung Group Holdings Ltd now owns 79,650 shares of the company's stock valued at $3,580,000 after purchasing an additional 15,700 shares in the last quarter. Altium Capital Management LLC raised its stake in Soleno Therapeutics by 17.4% during the fourth quarter. Altium Capital Management LLC now owns 250,000 shares of the company's stock valued at $11,238,000 after purchasing an additional 37,091 shares in the last quarter. Marshall Wace LLP lifted its position in Soleno Therapeutics by 61.3% during the fourth quarter. Marshall Wace LLP now owns 399,849 shares of the company's stock valued at $17,973,000 after purchasing an additional 152,010 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Soleno Therapeutics in the 4th quarter worth $531,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Soleno Therapeutics Stock Up 0.7 %

SLNO traded up $0.51 during trading on Friday, reaching $76.77. The company's stock had a trading volume of 950,943 shares, compared to its average volume of 737,387. The firm has a fifty day simple moving average of $62.61 and a two-hundred day simple moving average of $54.19. The company has a market cap of $3.83 billion, a price-to-earnings ratio of -23.12 and a beta of -2.67. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data 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 analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Matthew Pauls sold 5,937 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $465,075. The trade was a 47.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the business'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 transaction, the insider now owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock worth $64,058,781 over the last ninety days. Corporate insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SLNO shares. Robert W. Baird lifted their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday. Cantor Fitzgerald lifted their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Stifel Nicolaus increased their target price 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. Piper Sandler lifted their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a report on Thursday, March 27th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $106.78.

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.