Intech Investment Management LLC Takes $262,000 Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Intech Investment Management LLC acquired a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,190 shares of the company’s stock, valued at approximately $262,000.

Other hedge funds also recently bought and sold shares of the company. Sofinnova Investments Inc. raised its stake in shares of Soleno Therapeutics by 267.7% during the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after acquiring an additional 403,584 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Soleno Therapeutics by 174.0% during the 2nd quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after purchasing an additional 36,534 shares during the last quarter. Samlyn Capital LLC boosted its position in shares of Soleno Therapeutics by 128.9% in the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock worth $20,443,000 after purchasing an additional 282,122 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Soleno Therapeutics during the 2nd quarter worth $3,623,000. Finally, SG Americas Securities LLC acquired a new position in Soleno Therapeutics during the 2nd quarter valued at about $569,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

SLNO opened at $49.65 on Friday. The company has a fifty day moving average of $53.69 and a two-hundred day moving average of $48.75. Soleno Therapeutics, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $60.92. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -14.95 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday. Oppenheimer lifted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a report on Monday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $74.83.

Insider Transactions at Soleno Therapeutics

In related news, insider Kristen Yen sold 3,108 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the transaction, the insider now owns 81,465 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the sale, the chief financial officer now directly owns 119,172 shares in the company, valued at approximately $5,890,671.96. The trade was a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,818 shares of company stock valued at $1,622,194. Corporate insiders own 12.30% of the company’s stock.

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.