Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Sold by Vestal Point Capital LP

Vestal Point Capital LP cut its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 40.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 720,000 shares of the company’s stock after selling 480,000 shares during the quarter. Soleno Therapeutics makes up 2.8% of Vestal Point Capital LP’s holdings, making the stock its 12th biggest holding. Vestal Point Capital LP’s holdings in Soleno Therapeutics were worth $36,353,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in Soleno Therapeutics during the second quarter worth about $29,778,000. Nantahala Capital Management LLC increased its position in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after purchasing an additional 671,728 shares in the last quarter. FMR LLC raised its holdings in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares during the period. Westfield Capital Management Co. LP acquired a new position in Soleno Therapeutics during the third quarter valued at approximately $25,028,000. Finally, Avoro Capital Advisors LLC grew its stake in Soleno Therapeutics by 28.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock worth $85,340,000 after buying an additional 466,666 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock valued at $1,622,194 over the last three months. 12.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SLNO has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday, September 20th. Oppenheimer upped their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, November 11th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Stock Down 4.3 %

Shares of SLNO opened at $55.84 on Friday. The business’s 50 day moving average is $53.48 and its two-hundred day moving average is $48.54. Soleno Therapeutics, Inc. has a 52-week low of $26.38 and a 52-week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Equities analysts forecast that Soleno Therapeutics, Inc. will post -3.76 EPS for the current 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.