Tri Locum Partners LP Invests $16.79 Million in Soleno Therapeutics, Inc. $SLNO

Tri Locum Partners LP bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 234,920 shares of the company’s stock, valued at approximately $16,785,000. Soleno Therapeutics accounts for approximately 8.6% of Tri Locum Partners LP’s holdings, making the stock its 3rd biggest holding.

Several other institutional investors also recently modified their holdings of SLNO. AlphaQuest LLC grew its position in shares of Soleno Therapeutics by 37.5% during the 1st quarter. AlphaQuest LLC now owns 983 shares of the company’s stock worth $70,000 after buying an additional 268 shares during the period. Avanza Fonder AB grew its position in shares of Soleno Therapeutics by 14.8% in the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company’s stock valued at $144,000 after purchasing an additional 251 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Soleno Therapeutics by 811.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company’s stock valued at $193,000 after purchasing an additional 3,832 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Soleno Therapeutics in the 1st quarter valued at approximately $232,000. Finally, GAMMA Investing LLC grew its position in shares of Soleno Therapeutics by 4,377.3% in the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company’s stock valued at $240,000 after purchasing an additional 3,283 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Down 2.8%

NASDAQ SLNO opened at $67.68 on Thursday. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -16.35 and a beta of -2.56. The stock’s 50 day moving average price is $81.33 and its two-hundred day moving average price is $70.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $3.91 million. As a group, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SLNO shares. HC Wainwright reiterated a “buy” rating and issued a $110.00 price objective (up from $100.00) on shares of Soleno Therapeutics in a research report on Monday, August 18th. Cowen reiterated a “buy” rating on shares of Soleno Therapeutics in a research report on Thursday, August 7th. Wall Street Zen upgraded Soleno Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. TD Cowen started coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They issued a “buy” rating and a $110.00 price objective for the company. Finally, Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the company an “outperform” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $115.09.

Insider Activity

In other news, insider Patricia C. Hirano sold 3,830 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction of $316,970.80. Following the sale, the insider owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 6.40% of the stock is currently owned by corporate insiders.

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.