Westfield Capital Management Co. LP Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Westfield Capital Management Co. LP purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 495,708 shares of the company’s stock, valued at approximately $25,028,000. Westfield Capital Management Co. LP owned 1.15% of Soleno Therapeutics at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Amalgamated Bank purchased a new position in shares of Soleno Therapeutics during the 2nd quarter valued at $31,000. Curi RMB Capital LLC bought a new stake in Soleno Therapeutics in the 3rd quarter valued at about $202,000. Intech Investment Management LLC purchased a new stake in Soleno Therapeutics during the third quarter valued at about $262,000. Victory Capital Management Inc. boosted its position in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Buying and Selling at Soleno Therapeutics

In related news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics 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 directly owns 81,465 shares of the company’s stock, valued at $4,026,814.95. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now owns 119,172 shares in the company, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 701,362 shares of company stock valued at $33,970,517 in the last 90 days. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Trading Up 5.8 %

Shares of NASDAQ SLNO opened at $57.78 on Monday. The business has a 50-day moving average of $53.18 and a 200-day moving average of $48.27. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of -17.40 and a beta of -1.44. Soleno Therapeutics, Inc. has a 12 month low of $26.38 and a 12 month high of $59.75.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, analysts predict that Soleno Therapeutics, Inc. will post -3.76 earnings per share for the current year.

Analyst Ratings Changes

SLNO has been the subject of several analyst reports. 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 report on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, November 11th. Oppenheimer upped their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $74.83.

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.