Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stake Reduced by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust decreased its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,008 shares of the company’s stock after selling 8,091 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.70% of Soleno Therapeutics worth $11,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SLNO. Carlyle Group Inc. grew its position in Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock worth $173,123,000 after buying an additional 1,213,758 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Soleno Therapeutics by 32.0% during the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock valued at $1,288,000 after purchasing an additional 7,300 shares during the last quarter. Sei Investments Co. boosted its position in shares of Soleno Therapeutics by 22.0% in 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 period. StemPoint Capital LP acquired a new position in shares of Soleno Therapeutics in the 1st quarter valued at $4,958,000. Finally, Avoro Capital Advisors LLC increased its stake in Soleno Therapeutics by 107.0% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock worth $69,550,000 after purchasing an additional 840,000 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Buying and Selling

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of Soleno Therapeutics stock in a transaction that occurred 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 sale, the insider now directly owns 6,816,851 shares in the company, valued at $332,185,149.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Soleno Therapeutics news, 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 transaction of $24,365,000.00. Following the transaction, the insider now directly owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the transaction, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 771,441 shares of company stock worth $37,178,033. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Stock Up 1.5 %

Soleno Therapeutics stock opened at $55.86 on Friday. Soleno Therapeutics, Inc. has a 12 month low of $21.30 and a 12 month high of $57.28. The company’s fifty day simple moving average is $51.16 and its 200-day simple moving average is $46.84. The stock has a market cap of $2.17 billion, a P/E ratio of -22.89 and a beta of -1.45.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results 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, equities research analysts expect that Soleno Therapeutics, Inc. will post -2.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Oppenheimer upped their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. 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 for the company. Stifel Nicolaus raised their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $69.86.

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.