Schonfeld Strategic Advisors LLC Purchases New Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 39,400 shares of the company’s stock, valued at approximately $98,000.

A number of other large investors also recently added to or reduced their stakes in SLNO. Nantahala Capital Management LLC lifted its stake in shares of Soleno Therapeutics by 73.6% during the 2nd quarter. Nantahala Capital Management LLC now owns 7,426,368 shares of the company’s stock valued at $16,487,000 after buying an additional 3,148,445 shares in the last quarter. BlackRock Inc. raised its stake in Soleno Therapeutics by 74.4% during the 3rd quarter. BlackRock Inc. now owns 2,695,315 shares of the company’s stock valued at $6,765,000 after purchasing an additional 1,150,141 shares during the period. Point72 Asset Management L.P. lifted its holdings in Soleno Therapeutics by 107.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 800,000 shares of the company’s stock worth $1,776,000 after purchasing an additional 415,000 shares in the last quarter. Trellus Management Company LLC boosted its stake in Soleno Therapeutics by 13.6% in the 3rd quarter. Trellus Management Company LLC now owns 416,432 shares of the company’s stock worth $1,045,000 after purchasing an additional 50,000 shares during the period. Finally, State Street Corp raised its position in shares of Soleno Therapeutics by 28.9% during the third quarter. State Street Corp now owns 385,331 shares of the company’s stock valued at $967,000 after buying an additional 86,471 shares during the last quarter. 54.45% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on SLNO shares. ValuEngine upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, December 8th. Zacks Investment Research cut Soleno Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 14th. Finally, Guggenheim initiated coverage on Soleno Therapeutics in a report on Tuesday, September 29th. They set a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $7.06.

Shares of NASDAQ:SLNO opened at $1.93 on Friday. Soleno Therapeutics, Inc. has a 12 month low of $1.30 and a 12 month high of $4.39. The company has a market capitalization of $153.66 million, a price-to-earnings ratio of -3.11 and a beta of 0.45. The firm’s 50-day moving average is $1.94 and its 200 day moving average is $1.94.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Friday, November 13th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). As a group, analysts predict that Soleno Therapeutics, Inc. will post -0.32 earnings per share for the current fiscal year.

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 Controlled Release (DCCR), a once-daily oral tablet for the treatment of Prader-Willi Syndrome (PWS), is being evaluated in a Phase III clinical development program.

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Institutional Ownership by Quarter for Soleno Therapeutics (NASDAQ:SLNO)

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