47,794 Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO) Purchased by F M Investments LLC

F M Investments LLC acquired a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,794 shares of the company’s stock, valued at approximately $2,148,000. F M Investments LLC owned about 0.11% of Soleno Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLNO. TimesSquare Capital Management LLC purchased a new position in shares of Soleno Therapeutics in the fourth quarter valued at $15,273,000. Vanguard Group Inc. boosted its stake in Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after purchasing an additional 303,806 shares during the period. Wellington Management Group LLP grew its holdings in Soleno Therapeutics by 73.8% during the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock valued at $34,493,000 after buying an additional 290,135 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Soleno Therapeutics by 48.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company’s stock valued at $38,290,000 after buying an additional 276,225 shares in the last quarter. Finally, Emerald Advisers LLC increased its position in shares of Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after buying an additional 267,585 shares during the period. Institutional investors own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLNO. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald boosted their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Stifel Nicolaus increased their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 28th. Laidlaw lifted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird upped their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and an average price target of $99.63.

Insiders Place Their Bets

In other news, insider Patricia C. Hirano sold 128,653 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the transaction, the insider now directly owns 55,789 shares of the company’s stock, valued at approximately $3,811,504.48. This trade represents a 69.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock valued at $64,058,781 over the last quarter. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Stock Up 6.9 %

SLNO opened at $67.23 on Friday. The business’s fifty day simple moving average is $53.20 and its 200 day simple moving average is $51.38. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $74.00. The stock has a market cap of $3.08 billion, a PE ratio of -20.25 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

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.