Westfield Capital Management Co. LP Makes New $25.03 Million Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Westfield Capital Management Co. LP purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 495,708 shares of the company’s stock, valued at approximately $25,028,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new position in shares of Soleno Therapeutics in the second quarter worth $31,000. Curi RMB Capital LLC purchased a new position in Soleno Therapeutics during the third quarter valued at $202,000. Intech Investment Management LLC bought a new stake in Soleno Therapeutics in the 3rd quarter valued at $262,000. Victory Capital Management Inc. lifted 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 in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Trading Up 5.8 %

Shares of SLNO stock opened at $57.78 on Monday. Soleno Therapeutics, Inc. has a twelve month low of $26.38 and a twelve month high of $59.75. The stock has a fifty day simple moving average of $53.18 and a two-hundred day simple moving average of $48.27. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -17.40 and a beta of -1.44.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Research analysts predict that Soleno Therapeutics, Inc. will post -3.76 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the completion of the sale, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. This represents a 6.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 81,465 shares of the company’s stock, valued at $4,026,814.95. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 701,362 shares of company stock worth $33,970,517 over the last quarter. Insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.