Granite Point Capital Management L.P. Trims Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Granite Point Capital Management L.P. cut its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Rating) by 93.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,456 shares of the company’s stock after selling 2,470,394 shares during the period. Granite Point Capital Management L.P. owned 2.18% of Soleno Therapeutics worth $295,000 at the end of the most recent reporting period.

Separately, Renaissance Technologies LLC increased its holdings in Soleno Therapeutics by 309.6% during the 1st quarter. Renaissance Technologies LLC now owns 248,200 shares of the company’s stock worth $55,000 after acquiring an additional 187,600 shares during the period.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $2.37 on Wednesday. Soleno Therapeutics, Inc. has a 52-week low of $0.85 and a 52-week high of $6.30. The stock has a fifty day moving average of $1.59 and a 200 day moving average of $2.04.

Soleno Therapeutics (NASDAQ:SLNO – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.29. Equities analysts predict that Soleno Therapeutics, Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Oppenheimer raised their price target on shares of Soleno Therapeutics to $8.00 in a report on Thursday, November 17th.

Soleno Therapeutics Profile

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Soleno Therapeutics, Inc engages in the development and commercialization of novel therapeutics for the treatment of rare diseases. The firm focuses on the treatment of metabolic and neurobehavioral disorder. It offers its lead candidate, Diazoxide Choline Controlled-Release (DCCR), an oral tablet for the treatment of Prader-Willi Syndrome (PWS).