Tema Etfs LLC Takes $592,000 Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Tema Etfs LLC acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, Holdings Channel reports. The fund acquired 13,178 shares of the company’s stock, valued at approximately $592,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AlphaQuest LLC lifted its stake in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE acquired a new stake in Soleno Therapeutics during the fourth quarter valued at approximately $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics during the fourth quarter valued at approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics during the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC acquired a new stake in Soleno Therapeutics during the fourth quarter valued at approximately $89,000. 97.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now owns 27,036 shares in the company, valued at $1,895,493.96. This represents a 12.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Pauls sold 5,937 shares of the stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the completion of the sale, the director now owns 6,500 shares of the company’s stock, valued at approximately $465,075. The trade was a 47.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $75.01 on Friday. The company has a market cap of $3.78 billion, a PE ratio of -22.59 and a beta of -2.67. Soleno Therapeutics, Inc. has a 52 week low of $36.93 and a 52 week high of $80.99. The firm has a 50 day simple moving average of $66.28 and a 200 day simple moving average of $55.05.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on SLNO shares. Robert W. Baird increased their target price on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Stifel Nicolaus increased their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Guggenheim increased their target price on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Piper Sandler upped their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Finally, Laidlaw upped their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $106.78.

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.