Checkpoint Capital L.P. Has $2.93 Million Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Checkpoint Capital L.P. increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 194.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,983 shares of the company’s stock after buying an additional 38,288 shares during the period. Soleno Therapeutics accounts for approximately 1.5% of Checkpoint Capital L.P.’s holdings, making the stock its 11th biggest position. Checkpoint Capital L.P. owned about 0.13% of Soleno Therapeutics worth $2,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Amalgamated Bank acquired a new position in Soleno Therapeutics during the 2nd quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth about $155,000. Curi RMB Capital LLC acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth about $202,000. Intech Investment Management LLC bought a new stake in Soleno Therapeutics during the 3rd quarter valued at approximately $262,000. Finally, Fred Alger Management LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $310,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLNO. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday. Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Oppenheimer boosted their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $74.83.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 21,633 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $1,069,319.19. Following the sale, the chief executive officer now owns 719,553 shares of the company’s stock, valued at $35,567,504.79. The trade was a 2.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kristen Yen sold 3,108 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the transaction, the insider now owns 81,465 shares of the company’s stock, valued at $4,026,814.95. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Price Performance

SLNO opened at $52.71 on Monday. Soleno Therapeutics, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $60.92. The company has a market capitalization of $2.27 billion, a P/E ratio of -15.88 and a beta of -1.44. The firm’s fifty day moving average price is $53.51 and its two-hundred day moving average price is $48.67.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results 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, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.76 EPS for the current fiscal 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.