ADAR1 Capital Management LLC Increases Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

ADAR1 Capital Management LLC boosted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 268.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,830 shares of the company’s stock after buying an additional 26,830 shares during the period. ADAR1 Capital Management LLC owned 0.09% of Soleno Therapeutics worth $1,656,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SLNO. AlphaQuest LLC lifted its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after buying an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in Soleno Therapeutics in the fourth quarter worth approximately $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics during the fourth quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics in the fourth quarter valued at $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth $89,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Trading Down 6.5 %

Shares of NASDAQ:SLNO opened at $67.48 on Monday. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $74.00. The company has a market cap of $3.09 billion, a PE ratio of -20.33 and a beta of -2.29. The company’s 50 day moving average is $51.19 and its two-hundred day moving average is $50.72.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insider Activity at Soleno Therapeutics

In other news, VP Michael F. Huang sold 14,583 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the sale, the vice president now owns 36,817 shares in the company, valued at approximately $2,559,149.67. This represents a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patricia C. Hirano sold 128,653 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the transaction, the insider now owns 55,789 shares in the company, valued at $3,811,504.48. This trade represents a 69.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock valued at $64,058,781 in the last three months. 12.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLNO. Laidlaw upped their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 28th. HC Wainwright increased their price objective on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, March 31st. Cantor Fitzgerald boosted their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, UBS Group set a $105.00 price target on Soleno Therapeutics in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $99.63.

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.