Soleno Therapeutics, Inc. $SLNO Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,535 shares of the company’s stock after selling 185 shares during the period. Corebridge Financial Inc.’s holdings in Soleno Therapeutics were worth $896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLNO. AlphaQuest LLC boosted its stake in Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company’s stock worth $70,000 after buying an additional 268 shares during the last quarter. Avanza Fonder AB boosted its stake in Soleno Therapeutics by 14.8% during the first quarter. Avanza Fonder AB now owns 1,951 shares of the company’s stock worth $144,000 after buying an additional 251 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Soleno Therapeutics during the first quarter worth $232,000. GAMMA Investing LLC boosted its stake in Soleno Therapeutics by 4,377.3% during the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company’s stock worth $240,000 after buying an additional 3,283 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Soleno Therapeutics by 72.8% during the first quarter. Avior Wealth Management LLC now owns 3,410 shares of the company’s stock worth $244,000 after buying an additional 1,437 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction of $316,970.80. Following the transaction, the insider owned 13,206 shares of the company’s stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Soleno Therapeutics Price Performance

SLNO opened at $69.77 on Friday. The stock’s 50-day moving average price is $79.31 and its 200 day moving average price is $71.07. Soleno Therapeutics, Inc. has a 12-month low of $41.50 and a 12-month high of $90.32. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -16.85 and a beta of -2.72.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.44. The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. As a group, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLNO shares. Oppenheimer boosted their price objective on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Wall Street Zen raised Soleno Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Wells Fargo & Company began coverage on Soleno Therapeutics in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $123.00 price target on the stock. TD Cowen began coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company’s stock. According to MarketBeat, Soleno Therapeutics presently has an average rating of “Buy” and a consensus target price of $115.09.

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.