Checkpoint Capital L.P. Has $2.93 Million Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Checkpoint Capital L.P. grew its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 194.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 57,983 shares of the company’s stock after buying an additional 38,288 shares during the period. Soleno Therapeutics accounts for approximately 1.5% of Checkpoint Capital L.P.’s investment portfolio, making the stock its 11th largest holding. Checkpoint Capital L.P.’s holdings in Soleno Therapeutics were worth $2,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank bought a new position in Soleno Therapeutics in the second quarter valued at about $31,000. Victory Capital Management Inc. boosted its stake in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after purchasing an additional 2,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Soleno Therapeutics in the 3rd quarter valued at about $155,000. The Manufacturers Life Insurance Company grew its position in shares of Soleno Therapeutics by 6.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after buying an additional 3,226 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after buying an additional 3,481 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Down 5.6 %

SLNO stock opened at $52.71 on Monday. Soleno Therapeutics, Inc. has a 1-year low of $27.27 and a 1-year high of $60.92. The firm has a market cap of $2.27 billion, a PE ratio of -15.88 and a beta of -1.44. The business’s 50-day moving average price is $53.51 and its two-hundred day moving average price is $48.67.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, analysts forecast that Soleno Therapeutics, Inc. will post -3.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Oppenheimer upped their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Stifel Nicolaus raised their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $74.83.

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the transaction, the chief executive officer now owns 719,553 shares of the company’s stock, valued at $35,567,504.79. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,818 shares of company stock valued at $1,622,194 over the last quarter. Corporate insiders own 12.30% of the company’s stock.

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.