Holocene Advisors LP Purchases 57,913 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Holocene Advisors LP boosted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 10.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 594,364 shares of the company’s stock after acquiring an additional 57,913 shares during the period. Holocene Advisors LP’s holdings in Soleno Therapeutics were worth $30,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD bought a new position in shares of Soleno Therapeutics during the 1st quarter valued at approximately $6,533,000. Sofinnova Investments Inc. lifted its position in Soleno Therapeutics by 267.7% during the second quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after purchasing an additional 403,584 shares during the last quarter. TD Asset Management Inc lifted its position in Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after purchasing an additional 36,534 shares during the last quarter. Samlyn Capital LLC grew its stake in shares of Soleno Therapeutics by 128.9% in the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock worth $20,443,000 after buying an additional 282,122 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Soleno Therapeutics in the 2nd quarter worth about $3,623,000. 97.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on SLNO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday, September 20th. Stifel Nicolaus reissued a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a research report on Monday. Oppenheimer raised their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday. Finally, Robert W. Baird restated an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a report on Monday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Stock Down 5.1 %

SLNO stock opened at $50.00 on Tuesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -15.06 and a beta of -1.44. Soleno Therapeutics, Inc. has a twelve month low of $27.27 and a twelve month high of $60.92. The business’s fifty day simple moving average is $53.54 and its two-hundred day simple moving average is $48.70.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Research analysts expect that Soleno Therapeutics, Inc. will post -3.76 EPS for the current year.

Insider Activity

In other news, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $153,628.44. Following the transaction, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now directly owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,818 shares of company stock valued at $1,622,194. Corporate insiders own 12.30% of the company’s stock.

Soleno Therapeutics 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.