Quest Partners LLC Has $82,000 Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Quest Partners LLC decreased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 22.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,022 shares of the company’s stock after selling 574 shares during the period. Quest Partners LLC’s holdings in Soleno Therapeutics were worth $82,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Carlyle Group Inc. lifted its stake in Soleno Therapeutics by 42.5% during the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock worth $173,123,000 after purchasing an additional 1,213,758 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Soleno Therapeutics by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock worth $122,698,000 after buying an additional 346,914 shares in the last quarter. Avoro Capital Advisors LLC lifted its position in shares of Soleno Therapeutics by 107.0% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock worth $69,550,000 after buying an additional 840,000 shares during the period. Vestal Point Capital LP acquired a new stake in Soleno Therapeutics in the 4th quarter valued at $52,325,000. Finally, Assenagon Asset Management S.A. bought a new stake in Soleno Therapeutics in the second quarter valued at $29,778,000. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 0.2 %

SLNO opened at $52.92 on Wednesday. Soleno Therapeutics, Inc. has a 1-year low of $3.96 and a 1-year high of $54.37. The stock has a market capitalization of $1.77 billion, a PE ratio of -19.75 and a beta of -1.46. The firm has a 50-day moving average price of $48.25 and a two-hundred day moving average price of $44.60.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SLNO shares. Oppenheimer lifted their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 12th. HC Wainwright began coverage on shares of Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Seven equities research 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 has a consensus rating of “Buy” and an average price target of $67.14.

Insider Transactions at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 56,613 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $2,693,646.54. Following the transaction, the chief executive officer now owns 799,577 shares in the company, valued at $38,043,873.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of Soleno Therapeutics stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the completion of the sale, the chief executive officer now owns 799,577 shares of the company’s stock, valued at approximately $38,043,873.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total value of $24,365,000.00. Following the completion of the transaction, the insider now directly owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The disclosure for this sale can be found here. Insiders sold a total of 767,239 shares of company stock worth $36,744,548 over the last 90 days. 12.30% of the stock is owned by 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.