UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 6.3% during the third quarter, HoldingsChannel reports. The firm owned 22,042 shares of the company’s stock after selling 1,489 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Soleno Therapeutics were worth $1,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares during the period. Sofinnova Investments Inc. raised its position in shares of Soleno Therapeutics by 267.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after acquiring an additional 403,584 shares in the last quarter. Samlyn Capital LLC lifted its stake in shares of Soleno Therapeutics by 128.9% in the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock valued at $20,443,000 after purchasing an additional 282,122 shares during the period. TD Asset Management Inc boosted its position in shares of Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after purchasing an additional 36,534 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Soleno Therapeutics during the second quarter valued at approximately $3,623,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SLNO. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer lifted their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and an average target price of $74.83.

Insider Transactions at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the sale, the chief executive officer now owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the sale, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,818 shares of company stock worth $1,622,194 in the last three months. Corporate insiders own 12.30% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $45.27 on Thursday. The company’s 50-day moving average is $53.23 and its 200 day moving average is $49.09. Soleno Therapeutics, Inc. has a one year low of $35.70 and a one year high of $60.92. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.64 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, research analysts predict that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Soleno Therapeutics 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.