Soleno Therapeutics, Inc. (NASDAQ:SLNO) Holdings Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 26.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,727 shares of the company’s stock after purchasing an additional 2,236 shares during the period. Victory Capital Management Inc.’s holdings in Soleno Therapeutics were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC acquired a new stake in shares of Soleno Therapeutics during the 1st quarter valued at $505,000. Sei Investments Co. boosted its stake in shares of Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after buying an additional 2,264 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at $569,000. California State Teachers Retirement System boosted its stake 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 valued at $590,000 after buying an additional 3,481 shares during the period. Finally, Swiss National Bank acquired a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $918,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the transaction, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Kristen Yen sold 2,170 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $90,141.80. Following the transaction, the insider now owns 21,252 shares in the company, valued at approximately $882,808.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the transaction, the insider now owns 6,816,851 shares in the company, valued at approximately $332,185,149.23. The disclosure for this sale can be found here. Insiders sold a total of 767,239 shares of company stock valued at $36,744,548 in the last quarter. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $51.61 on Monday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -19.26 and a beta of -1.46. Soleno Therapeutics, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $55.56. The firm has a fifty day moving average price of $48.71 and a two-hundred day moving average price of $44.73.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. As a group, sell-side analysts expect that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HC Wainwright assumed coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $70.00 target price for the company. Oppenheimer lifted their price objective on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research note on Friday. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $67.14.

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.