Avoro Capital Advisors LLC raised its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO – Free Report) by 28.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,091,666 shares of the company’s stock after buying an additional 466,666 shares during the quarter. Soleno Therapeutics accounts for about 1.1% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 21st largest position. Avoro Capital Advisors LLC owned about 0.06% of Soleno Therapeutics worth $85,340,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in SLNO. Swiss National Bank bought a new position in Soleno Therapeutics during the fourth quarter valued at about $918,000. Rafferty Asset Management LLC bought a new stake in Soleno Therapeutics in the 4th quarter valued at $2,088,000. Vestal Point Capital LP bought a new position in shares of Soleno Therapeutics during the 4th quarter worth about $52,325,000. Wellington Management Group LLP acquired a new stake in shares of Soleno Therapeutics during the 4th quarter valued at about $8,557,000. Finally, Cannon Global Investment Management LLC bought a new stake in Soleno Therapeutics in the first quarter valued at about $505,000. 97.42% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, insider Kristen Yen sold 2,170 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction 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 $882,808.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Bhatnagar Anish sold 19,256 shares of the company’s stock in a transaction dated 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 directly owns 133,534 shares of the company’s stock, valued at approximately $5,547,002.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristen Yen sold 2,170 shares of Soleno Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the transaction, the insider now directly owns 21,252 shares in the company, valued at approximately $882,808.08. The disclosure for this sale can be found here. In the last three months, insiders sold 767,239 shares of company stock valued at $36,744,548. 12.30% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on SLNO
Soleno Therapeutics Trading Down 2.1 %
Shares of SLNO stock opened at $51.61 on Monday. Soleno Therapeutics, Inc. has a 1 year low of $3.96 and a 1 year high of $55.56. The firm’s 50 day moving average is $48.71 and its 200-day moving average is $44.73. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -19.26 and a beta of -1.46.
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.06. On average, equities research analysts forecast that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current fiscal 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.
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