CenterBook Partners LP Purchases New Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

CenterBook Partners LP acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 30,136 shares of the company’s stock, valued at approximately $1,355,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Corebridge Financial Inc. grew its stake in shares of Soleno Therapeutics by 2.9% in the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock worth $572,000 after buying an additional 357 shares during the last quarter. AlphaQuest LLC boosted its holdings in Soleno Therapeutics by 1,154.4% in 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 stake in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Alliancebernstein L.P. increased 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 valued at $1,070,000 after acquiring an additional 800 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Soleno Therapeutics by 13.2% during the fourth quarter. New York State Common Retirement Fund now owns 7,717 shares of the company’s stock valued at $347,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Buying and Selling at Soleno Therapeutics

In related news, VP Michael F. Huang sold 14,583 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total value of $1,013,664.33. Following the transaction, the vice president now directly owns 36,817 shares of the company’s stock, valued at approximately $2,559,149.67. This trade represents a 28.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Pauls sold 5,937 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the sale, the director now directly owns 6,500 shares of the company’s stock, valued at $465,075. This represents a 47.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Stock Down 0.6 %

Shares of Soleno Therapeutics stock opened at $62.87 on Friday. Soleno Therapeutics, Inc. has a twelve month low of $36.61 and a twelve month high of $74.00. The company’s 50 day moving average is $52.86 and its 200 day moving average is $51.25. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -18.94 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly 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). Sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SLNO shares. 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. Cantor Fitzgerald upped 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. Guggenheim reiterated a “buy” rating and set a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $99.63.

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.