Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Purchased by HealthInvest Partners AB

HealthInvest Partners AB raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,940 shares of the company’s stock after acquiring an additional 4,550 shares during the quarter. HealthInvest Partners AB’s holdings in Soleno Therapeutics were worth $1,391,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLNO. Allspring Global Investments Holdings LLC boosted its stake in shares of Soleno Therapeutics by 5.9% in the third 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. Harbor Capital Advisors Inc. purchased a new position in Soleno Therapeutics in the 3rd quarter valued at about $1,820,000. Emerald Advisers LLC grew its stake 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 valued at $15,820,000 after acquiring an additional 20,006 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Soleno Therapeutics by 25.9% during the third quarter. Victory Capital Management Inc. now owns 13,509 shares of the company’s stock worth $682,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Curi RMB Capital LLC acquired a new position in shares of Soleno Therapeutics in the third quarter worth about $202,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Stifel Nicolaus restated a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Oppenheimer raised their price objective on shares of 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 issued a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $71.20.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $46.13 on Monday. The company has a market cap of $1.99 billion, a PE ratio of -13.89 and a beta of -1.46. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $60.92. The company has a fifty day moving average price of $47.23 and a two-hundred day moving average price of $49.97.

Insider Activity

In related news, CFO James H. Mackaness sold 4,083 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $185,409.03. Following the completion of the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at $5,226,191.49. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,360 shares of company stock valued at $790,119. 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.