Crestline Management LP Purchases Shares of 12,943 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Crestline Management LP acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,943 shares of the company’s stock, valued at approximately $582,000.

Several other large investors also recently made changes to their positions in SLNO. Barclays PLC boosted its stake in Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after purchasing an additional 31,467 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Soleno Therapeutics by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after buying an additional 3,666 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Soleno Therapeutics by 3.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company’s stock worth $1,676,000 after buying an additional 1,248 shares in the last quarter. Avanza Fonder AB acquired a new stake in Soleno Therapeutics in the 4th quarter valued at approximately $76,000. Finally, Avior Wealth Management LLC bought a new stake in Soleno Therapeutics in the 4th quarter valued at approximately $89,000. Institutional investors own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Guggenheim raised their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Laidlaw raised their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. HC Wainwright reiterated a “buy” rating and set a $100.00 target price on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Finally, Piper Sandler raised their price target on Soleno Therapeutics from $93.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $106.78.

Insider Buying and Selling

In related news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction that occurred 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 of the company’s stock, valued at approximately $39,021,879.12. This trade represents a 54.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Patricia C. Hirano sold 128,653 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares of the company’s stock, valued at $3,811,504.48. This trade represents a 69.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 942,672 shares of company stock valued at $64,058,781. Company insiders own 12.30% of the company’s stock.

Soleno Therapeutics Stock Up 0.7 %

NASDAQ:SLNO opened at $76.77 on Friday. Soleno Therapeutics, Inc. has a 12-month low of $36.93 and a 12-month high of $80.99. The stock’s 50 day moving average price is $63.25 and its two-hundred day moving average price is $54.35. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -23.12 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.19. Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS 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.