Skandinaviska Enskilda Banken AB publ Purchases New Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Skandinaviska Enskilda Banken AB publ purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,102 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLNO. Janus Henderson Group PLC boosted its stake in Soleno Therapeutics by 21.5% in the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after purchasing an additional 722,226 shares in the last quarter. State Street Corp raised its position in Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after buying an additional 142,033 shares during the last quarter. Wellington Management Group LLP lifted its stake 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 acquiring an additional 290,135 shares during the period. FMR LLC boosted its holdings in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after acquiring an additional 665,363 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Soleno Therapeutics by 10.8% in the third quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after acquiring an additional 57,913 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $49.63 on Tuesday. The business’s fifty day moving average is $47.35 and its 200 day moving average is $49.76. The company has a market capitalization of $2.28 billion, a PE ratio of -14.95 and a beta of -1.70. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced 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). On average, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 over the last three months. 12.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Stifel Nicolaus assumed coverage on Soleno Therapeutics in a research note on Wednesday, March 5th. They issued a “buy” rating and a $74.00 price target on the stock. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $71.20.

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.