Persistent Asset Partners Ltd Has $5.47 Million Stake in Soleno Therapeutics, Inc. $SLNO

Persistent Asset Partners Ltd lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 205.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,319 shares of the company’s stock after purchasing an additional 43,923 shares during the quarter. Soleno Therapeutics accounts for 4.1% of Persistent Asset Partners Ltd’s portfolio, making the stock its 2nd largest position. Persistent Asset Partners Ltd’s holdings in Soleno Therapeutics were worth $5,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in shares of Soleno Therapeutics by 287.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock valued at $45,000 after buying an additional 400 shares in the last quarter. KBC Group NV acquired a new position in Soleno Therapeutics in the second quarter valued at about $77,000. AlphaQuest LLC increased its holdings in shares of Soleno Therapeutics by 37.5% in the first quarter. AlphaQuest LLC now owns 983 shares of the company’s stock worth $70,000 after acquiring an additional 268 shares in the last quarter. Quarry LP acquired a new stake in shares of Soleno Therapeutics during the first quarter worth about $121,000. Finally, Optimize Financial Inc bought a new position in shares of Soleno Therapeutics during the 1st quarter valued at about $274,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research reports. Cowen reissued a “buy” rating on shares of Soleno Therapeutics in a research note on Thursday, August 7th. HC Wainwright reiterated a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Wells Fargo & Company restated an “overweight” rating and set a $106.00 target price (down previously from $123.00) on shares of Soleno Therapeutics in a report on Wednesday, November 5th. The Goldman Sachs Group set a $125.00 price target on Soleno Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.50.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $49.42 on Friday. The company has a quick ratio of 15.01, a current ratio of 15.13 and a debt-to-equity ratio of 0.21. Soleno Therapeutics, Inc. has a twelve month low of $41.50 and a twelve month high of $90.32. The company has a fifty day moving average of $60.27 and a 200-day moving average of $72.02. The firm has a market capitalization of $2.65 billion, a P/E ratio of -11.94 and a beta of -2.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The company had revenue of $66.02 million during the quarter, compared to analyst estimates of $47.46 million. As a group, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current 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.