VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 12,900 Soleno Therapeutics, Inc. $SLNO

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the second quarter, HoldingsChannel.com reports. The fund acquired 12,900 shares of the company’s stock, valued at approximately $1,081,000.

Other large investors also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Soleno Therapeutics by 37.5% in the 1st quarter. AlphaQuest LLC now owns 983 shares of the company’s stock valued at $70,000 after purchasing an additional 268 shares during the last quarter. Quarry LP purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $121,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $232,000. Optimize Financial Inc purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $274,000. Finally, Royce & Associates LP purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $286,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SLNO shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Soleno Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Cowen reaffirmed a “buy” rating on shares of Soleno Therapeutics in a research report on Thursday, August 7th. The Goldman Sachs Group set a $125.00 target price on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Oppenheimer increased their target price on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $115.92.

Soleno Therapeutics Stock Down 4.8%

Shares of NASDAQ:SLNO opened at $63.66 on Friday. Soleno Therapeutics, Inc. has a 1-year low of $41.50 and a 1-year high of $90.32. The stock has a market cap of $3.38 billion, a P/E ratio of -15.38 and a beta of -2.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01. The firm has a fifty day moving average price of $63.89 and a 200 day moving average price of $73.24.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.44. The firm had revenue of $32.66 million during the quarter, compared to analyst estimates of $3.91 million. Sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current 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 Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.