Walleye Capital LLC Invests $3.46 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Walleye Capital LLC acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, HoldingsChannel reports. The fund acquired 76,934 shares of the company’s stock, valued at approximately $3,458,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Soleno Therapeutics by 19.2% in the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after acquiring an additional 303,806 shares during the last quarter. State Street Corp lifted its stake in Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after purchasing an additional 142,033 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Soleno Therapeutics by 48.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company’s stock valued at $38,290,000 after purchasing an additional 276,225 shares during the last quarter. Wellington Management Group LLP grew its holdings in Soleno Therapeutics by 14.5% during the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after purchasing an additional 99,095 shares during the period. Finally, Geode Capital Management LLC increased its position in Soleno Therapeutics by 10.9% during the fourth quarter. Geode Capital Management LLC now owns 599,119 shares of the company’s stock worth $26,937,000 after buying an additional 58,823 shares during the last quarter. 97.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLNO has been the subject of a number of recent analyst reports. UBS Group set a $105.00 price objective on Soleno Therapeutics in a research report on Thursday, March 27th. Guggenheim reaffirmed 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. Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Cantor Fitzgerald raised 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. Finally, Robert W. Baird upped their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $99.63.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. This represents a 54.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Pauls sold 5,937 shares of Soleno Therapeutics 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 completion of the transaction, the director now 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. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last ninety days. 12.30% of the stock is currently owned by company insiders.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $69.98 on Friday. The company has a market capitalization of $3.21 billion, a P/E ratio of -21.08 and a beta of -2.29. The business’s 50 day simple moving average is $54.76 and its 200 day simple moving average is $51.93. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results 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). On average, sell-side analysts anticipate 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.