Springhill Fund Asset Management HK Co Ltd Invests $81,000 in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, Holdings Channel reports. The fund purchased 1,793 shares of the company’s stock, valued at approximately $81,000. Soleno Therapeutics comprises approximately 0.1% of Springhill Fund Asset Management HK Co Ltd’s holdings, making the stock its 17th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in SLNO. AlphaQuest LLC boosted its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the fourth quarter valued at $34,000. Avanza Fonder AB bought a new stake in Soleno Therapeutics in the 4th quarter worth about $76,000. Avior Wealth Management LLC purchased a new position in Soleno Therapeutics in the 4th quarter worth about $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Soleno Therapeutics during the 3rd quarter valued at about $155,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,782 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now owns 27,036 shares in the company, valued at approximately $1,895,493.96. This represents a 12.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. This trade represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 over the last ninety days. Company insiders own 12.30% of the company’s stock.

Soleno Therapeutics Trading Down 6.5 %

Shares of NASDAQ SLNO opened at $67.48 on Friday. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -20.33 and a beta of -2.29. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $74.00. The company has a 50 day simple moving average of $51.19 and a two-hundred day simple moving average of $50.74.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). Analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLNO. HC Wainwright boosted their target price on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, March 31st. Cantor Fitzgerald upped their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Robert W. Baird increased their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, March 27th. Stifel Nicolaus boosted their target price 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. Finally, Laidlaw boosted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.