Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC boosted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 85.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 580,919 shares of the company’s stock after acquiring an additional 267,585 shares during the quarter. Emerald Advisers LLC’s holdings in Soleno Therapeutics were worth $26,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaQuest LLC lifted its position in shares of Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $34,000. Avanza Fonder AB purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $76,000. Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Soleno Therapeutics during the 3rd quarter worth approximately $155,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Soleno Therapeutics

In related news, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the transaction, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares in the company, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Stock Up 1.5 %

Shares of NASDAQ SLNO opened at $49.11 on Friday. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $60.92. The firm has a fifty day moving average of $47.71 and a 200-day moving average of $49.77. The stock has a market capitalization of $2.25 billion, a PE ratio of -14.79 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last announced 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). Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research note on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price for the company. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Five 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, the stock currently has an average rating of “Buy” and a consensus price target of $71.20.

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.