Rhumbline Advisers Makes New Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Rhumbline Advisers purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 29,144 shares of the company’s stock, valued at approximately $1,189,000. Rhumbline Advisers owned about 0.09% of Soleno Therapeutics as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SLNO. Vestal Point Capital LP bought a new position in Soleno Therapeutics during the 4th quarter worth approximately $52,325,000. Carlyle Group Inc. increased its stake in shares of Soleno Therapeutics by 42.5% in the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after acquiring an additional 1,213,758 shares in the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics by 107.0% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock valued at $69,550,000 after acquiring an additional 840,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at $29,778,000. Finally, Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after acquiring an additional 346,914 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Bhatnagar Anish sold 19,256 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $799,894.24. Following the completion of the transaction, the chief executive officer now owns 133,534 shares of the company’s stock, valued at $5,547,002.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 19,256 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $799,894.24. Following the completion of the sale, the chief executive officer now owns 133,534 shares of the company’s stock, valued at $5,547,002.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kristen Yen sold 2,170 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now directly owns 21,252 shares of the company’s stock, valued at approximately $882,808.08. The disclosure for this sale can be found here. Insiders have sold a total of 767,239 shares of company stock worth $36,744,548 over the last ninety days. Company insiders own 12.30% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $51.61 on Friday. The company’s 50-day moving average is $48.71 and its 200 day moving average is $44.75. The company has a market capitalization of $1.72 billion, a P/E 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.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. As a group, research analysts predict that Soleno Therapeutics, Inc. will post -2.28 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.