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

Vestal Point Capital LP cut its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 40.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 720,000 shares of the company’s stock after selling 480,000 shares during the quarter. Soleno Therapeutics comprises approximately 2.8% of Vestal Point Capital LP’s investment portfolio, making the stock its 12th biggest position. Vestal Point Capital LP owned 1.67% of Soleno Therapeutics worth $36,353,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Amalgamated Bank purchased a new position in shares of Soleno Therapeutics during the second quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Soleno Therapeutics in the third quarter worth $155,000. Curi RMB Capital LLC purchased a new position in Soleno Therapeutics in the third quarter valued at $202,000. Intech Investment Management LLC purchased a new stake in Soleno Therapeutics during the 3rd quarter worth about $262,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after buying an additional 2,236 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Activity at Soleno Therapeutics

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

Analyst Ratings Changes

Several research firms have commented on SLNO. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Stifel Nicolaus increased 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. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, November 11th. Finally, Oppenheimer increased their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Price Performance

SLNO stock opened at $55.84 on Friday. The business has a 50 day simple moving average of $53.48 and a 200-day simple moving average of $48.54. Soleno Therapeutics, Inc. has a twelve month low of $26.38 and a twelve month 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 the consensus estimate of ($0.61) by ($1.22). On average, equities analysts anticipate 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.