Samlyn Capital LLC Purchases 282,122 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Samlyn Capital LLC lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 128.9% in the 2nd quarter, Holdings Channel reports. The fund owned 501,049 shares of the company’s stock after buying an additional 282,122 shares during the quarter. Samlyn Capital LLC’s holdings in Soleno Therapeutics were worth $20,443,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank bought a new position in shares of Soleno Therapeutics during the 2nd quarter worth $31,000. Victory Capital Management Inc. boosted its stake in Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the period. Sei Investments Co. boosted its stake in Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares during the period. California State Teachers Retirement System boosted its stake in Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares during the period. Finally, Swiss National Bank boosted its stake in Soleno Therapeutics by 32.0% in the 1st quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after purchasing an additional 7,300 shares during the period. Institutional investors own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SLNO shares. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday. HC Wainwright started coverage on Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price for the company. Finally, Oppenheimer raised their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $67.14.

Insider Buying and Selling

In related news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.22, for a total transaction of $4,722,000.00. Following the transaction, the insider now directly owns 6,291,851 shares in the company, valued at approximately $297,101,204.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO James H. Mackaness sold 7,190 shares of Soleno Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $298,672.60. Following the sale, the chief financial officer now directly owns 55,763 shares in the company, valued at approximately $2,316,395.02. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Vivo Opportunity, Llc sold 100,000 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.22, for a total value of $4,722,000.00. Following the completion of the sale, the insider now owns 6,291,851 shares in the company, valued at $297,101,204.22. The disclosure for this sale can be found here. Insiders have sold a total of 767,239 shares of company stock worth $36,744,548 in the last ninety days. 12.30% of the stock is owned by insiders.

Soleno Therapeutics Stock Down 6.7 %

NASDAQ:SLNO opened at $48.14 on Tuesday. The business’s 50-day moving average price is $48.67 and its two-hundred day moving average price is $44.76. Soleno Therapeutics, Inc. has a twelve month low of $4.11 and a twelve month high of $55.56. The stock has a market cap of $1.61 billion, a P/E ratio of -17.96 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -2.28 EPS for the current fiscal year.

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.