Perceptive Advisors SLNO Position
Exited9-Fund ConvergencePerceptive Advisors exited their position in SOLENO THERAPEUTICS INC (SLNO) in Q3 2025, after holding the stock for 10 quarters.
The position was first reported in Q2 2023 and has been tracked across 10 quarterly 13F filings.
SLNO is a convergence signal: 9 specialist biotech funds hold this stock, suggesting high institutional conviction.
There is an upcoming Phase 3 readout for DCCR in 806 days (Jun 30, 2028), making the timing of Perceptive's position particularly relevant.
Short interest stands at 20.7% of float with 5.8 days to cover, indicating significant bearish positioning against the stock.
About SOLENO THERAPEUTICS INC
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 Controlled-Release, a once-daily oral tablet for the treatment of Prader-Willi Syndrome, which is being evaluated in an ongoing Phase III clinical development program. The company was formerly known as Capnia, Inc. and changed its name to Soleno Therapeutics, Inc. in May 2017. Soleno Therapeutics, Inc. was incorporated in 1999 and is based in Redwood City, California.
Full company profile →Short Interest
20.7%
5.8 days to cover
Perceptive Advisors SLNO Position History
| Quarter | Action | Shares | Change | Value |
|---|---|---|---|---|
| Q3 2025 | Exited | 0 | -430,439 | $0 |
| Q2 2025 | Decreased | 430,439 | -1,076,163 | $36.1M |
| Q1 2025 | Increased | 1,506,602 | +5,562 | $107.6M |
| Q4 2024 | Decreased | 1,501,040 | -1,703,936 | $67.5M |
| Q3 2024 | Held | 3,204,976 | — | $161.8M |
| Q2 2024 | Increased | 3,204,976 | +130,434 | $130.8M |
| Q1 2024 | Held | 3,074,542 | — | $131.6M |
| Q4 2023 | Held | 3,074,542 | — | $123.8M |
| Q3 2023 | Increased | 3,074,542 | +866,789 | $90.7M |
| Q2 2023 | New | 2,207,753 | +2,207,753 | $9.5M |
Frequently Asked Questions
Does Perceptive Advisors own SLNO?
No. Perceptive Advisors exited their position in SOLENO THERAPEUTICS INC (SLNO) in Q3 2025. They previously held the stock for 10 quarters.
How many hedge funds own SLNO?
9 specialist biotech hedge funds currently hold SLNO, including Avoro Capital Advisors, Commodore Capital, Deep Track Capital and 6 more. When 3 or more specialist funds hold the same stock, BiotechEdge flags it as a convergence signal.
When did Perceptive Advisors first buy SLNO?
Perceptive Advisors's position in SLNO was first reported in Q2 2023. 13F filings are reported with a 45-day delay, so the actual purchase may have occurred earlier in the quarter.
Is Perceptive Advisors's SLNO position increasing or decreasing?
Perceptive Advisors completely exited their SLNO position in the most recent quarter.
Get the weekly biotech signal briefing
Fund moves, convergence shifts, insider buys, and catalyst alerts — delivered free every Monday.
SLNOCompany Page →
All fund holders, insider trades, catalysts, and cash runway
Perceptive AdvisorsPortfolio →
Full 13F holdings, sector breakdown, and top movers
Drill into any signal
Fund Convergence
See which stocks multiple specialist funds are buying at once
Catalyst Calendar
Every PDUFA date, Phase 3 readout, and AdCom in one view
Insider Trading
When executives buy their own stock — the strongest bullish signal
Cash Runway
Which biotechs are running low on cash and face dilution risk
Short Squeeze
High short interest + fund buying + upcoming catalyst = squeeze setup
Signal Rankings
Every signal in one composite score — ranked by conviction
Biotech Movers
Stocks with the most signal activity right now across all signals
13F Changes
What top biotech funds bought and sold in the latest 13F filing
Want AI context on every signal? Start free trial →