Martingale Asset Management L P Has $1.13 Million Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Martingale Asset Management L P boosted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 14.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,178 shares of the company’s stock after purchasing an additional 3,203 shares during the period. Martingale Asset Management L P’s holdings in Soleno Therapeutics were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. AlphaQuest LLC raised its position in shares of Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares in the last quarter. US Bancorp DE acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $34,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics in the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics in the fourth quarter valued at approximately $81,000. Finally, Avior Wealth Management LLC bought a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $89,000. Institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Laidlaw lifted their price objective 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. HC Wainwright lifted their price target on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Cantor Fitzgerald increased their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Guggenheim reaffirmed a “buy” rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Finally, UBS Group set a $105.00 price target on Soleno Therapeutics in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and an average target price of $99.63.

Soleno Therapeutics Stock Performance

Shares of SLNO opened at $67.23 on Friday. The firm has a market capitalization of $3.08 billion, a P/E ratio of -20.25 and a beta of -2.29. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $74.00. The stock has a 50 day moving average price of $53.20 and a two-hundred day moving average price of $51.38.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insider Activity

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the transaction, the chief executive officer now owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patricia C. Hirano sold 128,653 shares of the company’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 transaction, 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 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 over the last quarter. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Company 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.