Geode Capital Management LLC Raises Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Geode Capital Management LLC boosted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 10.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,296 shares of the company’s stock after purchasing an additional 51,189 shares during the quarter. Geode Capital Management LLC’s holdings in Soleno Therapeutics were worth $27,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in shares of Soleno Therapeutics during the second quarter valued at about $31,000. Victory Capital Management Inc. lifted its position in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after acquiring an additional 2,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics in the third quarter valued at approximately $155,000. The Manufacturers Life Insurance Company grew its holdings in Soleno Therapeutics by 6.5% in the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after purchasing an additional 3,226 shares during the last quarter. Finally, Curi RMB Capital LLC acquired a new position in shares of Soleno Therapeutics during the third quarter worth $202,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now owns 719,553 shares of the company’s stock, valued at approximately $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the transaction, the chief financial officer now owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $47.06 on Friday. The firm has a market capitalization of $2.03 billion, a P/E ratio of -14.17 and a beta of -1.47. The company’s fifty day moving average price is $52.37 and its 200-day moving average price is $49.13. Soleno Therapeutics, Inc. has a 1-year low of $35.70 and a 1-year high of $60.92.

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

About Soleno Therapeutics

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.