Vanguard Group Inc. Purchases 303,806 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Vanguard Group Inc. increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,884,533 shares of the company’s stock after acquiring an additional 303,806 shares during the period. Vanguard Group Inc. owned about 4.37% of Soleno Therapeutics worth $84,710,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLNO. State Street Corp raised its position in shares of Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after acquiring an additional 142,033 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Soleno Therapeutics by 73.8% in the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock worth $34,493,000 after acquiring an additional 290,135 shares during the last quarter. Barclays PLC boosted its position in shares of Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after acquiring an additional 51,189 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Soleno Therapeutics during the 3rd quarter worth approximately $656,000. Institutional investors own 97.42% of the company’s stock.

Insider Activity

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the sale, the chief executive officer now owns 577,076 shares in the company, valued at $39,021,879.12. The trade was a 54.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael F. Huang sold 14,583 shares of the firm’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 transaction, the vice president now owns 36,817 shares of the company’s stock, valued at approximately $2,559,149.67. The trade was a 28.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. HC Wainwright boosted their price objective on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, March 31st. Cantor Fitzgerald increased their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Laidlaw increased their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics presently has an average rating of “Buy” and a consensus price target of $99.63.

Soleno Therapeutics Trading Up 7.2 %

NASDAQ SLNO opened at $63.27 on Thursday. Soleno Therapeutics, Inc. has a 12 month low of $36.61 and a 12 month high of $74.00. The stock’s fifty day moving average price is $52.57 and its 200-day moving average price is $51.14. The stock has a market cap of $2.90 billion, a P/E ratio of -19.06 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share 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.