13,802 Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,802 shares of the company’s stock, valued at approximately $620,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 58,823 shares during the period. Franklin Resources Inc. purchased a new stake in Soleno Therapeutics during the fourth quarter valued at about $674,000. Alliancebernstein L.P. boosted its holdings in shares of Soleno Therapeutics by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock worth $1,070,000 after buying an additional 800 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Soleno Therapeutics by 14.5% in the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after buying an additional 99,095 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of Soleno Therapeutics by 48.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company’s stock worth $38,290,000 after acquiring an additional 276,225 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

SLNO has been the topic of several recent analyst reports. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. HC Wainwright raised their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Laidlaw upped their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $98.86.

Soleno Therapeutics Price Performance

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

Soleno Therapeutics (NASDAQ:SLNO) last announced 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). On average, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insider Activity at Soleno Therapeutics

In related news, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of the firm’s stock in a transaction dated 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 $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 945,012 shares of company stock worth $64,166,842 in the last 90 days. 12.30% of the stock is owned by company insiders.

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.