Geode Capital Management LLC Buys 51,189 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Geode Capital Management LLC raised its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 540,296 shares of the company’s stock after purchasing an additional 51,189 shares during the period. Geode Capital Management LLC owned 1.25% of Soleno Therapeutics worth $27,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank bought a new position in Soleno Therapeutics during the second quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth approximately $155,000. Curi RMB Capital LLC bought a new position in shares of Soleno Therapeutics during the 3rd quarter valued at approximately $202,000. Intech Investment Management LLC purchased a new position in shares of Soleno Therapeutics in the third quarter valued at $262,000. Finally, Fred Alger Management LLC bought a new stake in Soleno Therapeutics in the third quarter worth $310,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

SLNO opened at $47.06 on Friday. Soleno Therapeutics, Inc. has a one year low of $35.70 and a one year high of $60.92. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -14.17 and a beta of -1.47. The stock’s 50 day moving average price is $52.37 and its 200-day moving average price is $49.13.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, analysts predict that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. 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, Robert W. Baird restated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $74.83.

Insider Buying and Selling

In related news, 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the sale, the chief executive officer now directly owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,818 shares of company stock valued at $1,622,194 in the last 90 days. Company insiders own 12.30% of the company’s stock.

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.