Victory Capital Management Inc. Buys 2,782 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Victory Capital Management Inc. boosted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 25.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,509 shares of the company’s stock after buying an additional 2,782 shares during the quarter. Victory Capital Management Inc.’s holdings in Soleno Therapeutics were worth $682,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Emerald Advisers LLC raised its position in shares of Soleno Therapeutics by 6.8% during the third quarter. Emerald Advisers LLC now owns 313,334 shares of the company’s stock worth $15,820,000 after acquiring an additional 20,006 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Soleno Therapeutics during the 3rd quarter worth about $1,820,000. Allspring Global Investments Holdings LLC lifted its position in Soleno Therapeutics by 5.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 141,424 shares of the company’s stock valued at $7,140,000 after purchasing an additional 7,840 shares during the period. Nantahala Capital Management LLC boosted its stake in shares of Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after purchasing an additional 671,728 shares during the last quarter. Finally, Perceptive Advisors LLC grew its position in shares of Soleno Therapeutics by 4.2% during the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after buying an additional 130,434 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Insider Activity

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now owns 81,465 shares of the company’s stock, valued at $4,026,814.95. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the transaction, the chief financial officer now directly owns 119,172 shares of the company’s stock, valued at $5,890,671.96. This represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,818 shares of company stock worth $1,622,194 over the last quarter. 12.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, November 11th. 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 upped their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus raised their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $74.83.

Soleno Therapeutics Trading Down 4.3 %

Shares of Soleno Therapeutics stock opened at $55.84 on Friday. Soleno Therapeutics, Inc. has a 12 month low of $26.38 and a 12 month high of $60.92. The company has a market capitalization of $2.41 billion, a PE ratio of -16.82 and a beta of -1.44. The stock’s fifty day simple moving average is $53.48 and its 200 day simple moving average is $48.54.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data 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). Analysts predict that Soleno Therapeutics, Inc. will post -3.76 EPS for the current fiscal 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.