21,975 Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO) Acquired by Martingale Asset Management L P

Martingale Asset Management L P purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,975 shares of the company’s stock, valued at approximately $1,110,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD purchased a new stake in shares of Soleno Therapeutics during the first quarter valued at $6,533,000. Sofinnova Investments Inc. boosted its holdings in shares of Soleno Therapeutics by 267.7% in the second quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after buying an additional 403,584 shares during the period. TD Asset Management Inc raised its holdings in shares of Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after acquiring an additional 36,534 shares during the period. Samlyn Capital LLC lifted its position in shares of Soleno Therapeutics by 128.9% in the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock valued at $20,443,000 after acquiring an additional 282,122 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Soleno Therapeutics in the 2nd quarter worth approximately $3,623,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Activity

In other news, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the transaction, the chief executive officer now owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. This represents a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James H. Mackaness sold 8,077 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 $399,246.11. Following the completion of the sale, the chief financial officer now owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,818 shares of company stock worth $1,622,194. 12.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Soleno Therapeutics Price Performance

SLNO opened at $52.71 on Monday. The company has a market capitalization of $2.27 billion, a PE ratio of -15.88 and a beta of -1.44. Soleno Therapeutics, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $60.92. The business has a 50-day moving average of $53.51 and a 200-day moving average of $48.67.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.76 earnings per share for the current fiscal year.

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.