Soleno Therapeutics, Inc. (NASDAQ:SLNO) is Nantahala Capital Management LLC's Largest Position

Nantahala Capital Management LLC lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,928,966 shares of the company's stock after purchasing an additional 658,518 shares during the quarter. Soleno Therapeutics accounts for approximately 7.6% of Nantahala Capital Management LLC's portfolio, making the stock its largest holding. Nantahala Capital Management LLC owned 9.11% of Soleno Therapeutics worth $176,607,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC raised its holdings in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE purchased a new stake in Soleno Therapeutics in the 4th quarter worth $34,000. Avanza Fonder AB purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics in the 4th quarter worth about $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics in the fourth quarter valued at approximately $89,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SLNO. Robert W. Baird boosted their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a report 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 research note on Thursday, March 27th. Piper Sandler lifted their target price 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. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $104.67.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the firm'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 transaction of $47,272,803.90. Following the sale, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. This trade represents a 54.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total value of $424,792.35. Following the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $465,075. This represents a 47.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Price Performance

Shares of SLNO stock traded up $0.21 during trading hours on Friday, reaching $75.23. 424,080 shares of the company's stock were exchanged, compared to its average volume of 729,255. The company's 50 day moving average is $60.27 and its two-hundred day moving average is $53.60. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $76.56. The company has a market cap of $3.75 billion, a P/E ratio of -22.66 and a beta of -2.67.

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