Bryce Point Capital LLC Purchases New Stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Bryce Point Capital LLC purchased a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,802 shares of the company’s stock, valued at approximately $620,000.

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

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 699,095 shares of the firm’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 transaction, the chief executive officer now directly owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. This trade represents a 54.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares of the company’s stock, 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. Insiders have sold a total of 945,012 shares of company stock worth $64,166,842 in the last ninety days. 12.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Guggenheim reissued a “buy” rating and issued a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. HC Wainwright lifted their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, Robert W. Baird lifted their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and an average target price of $98.86.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $73.67 on Thursday. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $73.97. The firm’s 50-day moving average is $50.32 and its 200-day moving average is $50.50. The company has a market cap of $3.38 billion, a P/E ratio of -22.19 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

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.