Fmr LLC Raises Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Fmr LLC grew its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 6,048,754.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 665,374 shares of the company’s stock after buying an additional 665,363 shares during the quarter. Fmr LLC owned 1.54% of Soleno Therapeutics worth $33,595,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. California State Teachers Retirement System lifted its position in shares of Soleno Therapeutics by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth about $569,000. Assenagon Asset Management S.A. purchased a new position in shares of Soleno Therapeutics in the 2nd quarter valued at about $29,778,000. Bank of New York Mellon Corp acquired a new stake in shares of Soleno Therapeutics during the 2nd quarter worth about $3,623,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Soleno Therapeutics by 28.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 133,584 shares of the company’s stock worth $5,450,000 after purchasing an additional 29,745 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Down 1.0 %

SLNO stock opened at $49.15 on Monday. The company has a market cap of $2.12 billion, a PE ratio of -14.80 and a beta of -1.47. The stock has a 50-day moving average price of $53.69 and a two-hundred day moving average price of $48.84. Soleno Therapeutics, Inc. has a 12-month low of $33.89 and a 12-month high of $60.92.

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

Wall Street Analysts Forecast Growth

SLNO has been the topic of several research analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer increased 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, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $74.83.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO James H. Mackaness sold 8,077 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the sale, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,818 shares of company stock valued at $1,622,194 in the last three months. Corporate insiders own 12.30% of the company’s stock.

Soleno Therapeutics Company 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.