Rafferty Asset Management LLC Has $2.99 Million Stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Rafferty Asset Management LLC lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 17.4% during the 4th quarter, HoldingsChannel reports. The fund owned 66,480 shares of the company’s stock after purchasing an additional 9,847 shares during the period. Rafferty Asset Management LLC’s holdings in Soleno Therapeutics were worth $2,988,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SLNO. Janus Henderson Group PLC boosted its holdings in shares of Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after acquiring an additional 1,107,166 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after acquiring an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC boosted its holdings in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Soleno Therapeutics during the 4th quarter valued at $15,273,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Soleno Therapeutics by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after acquiring an additional 321,223 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Transactions at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the transaction, the insider now directly owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. This trade represents a 12.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael F. Huang sold 14,583 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $69.51, for a total value of $1,013,664.33. Following the completion of the sale, the vice president now directly owns 36,817 shares of the company’s stock, valued at $2,559,149.67. The trade was a 28.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 942,672 shares of company stock valued at $64,058,781. Corporate insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SLNO. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Guggenheim raised their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Piper Sandler raised their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Laidlaw raised their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, UBS Group set a $105.00 target price on Soleno Therapeutics in a research report on Thursday, March 27th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $106.78.

Soleno Therapeutics Trading Up 0.8%

SLNO stock opened at $75.58 on Tuesday. The stock has a 50-day moving average price of $66.86 and a 200-day moving average price of $55.19. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.99. The firm has a market cap of $3.81 billion, a PE ratio of -22.77 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, analysts forecast 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.