Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 599,119 shares of the company’s stock after purchasing an additional 58,823 shares during the period. Geode Capital Management LLC owned approximately 1.39% of Soleno Therapeutics worth $26,937,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after buying an additional 303,806 shares in the last quarter. State Street Corp grew its holdings in 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 period. Pictet Asset Management Holding SA grew its holdings in Soleno Therapeutics by 48.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company’s stock worth $38,290,000 after acquiring an additional 276,225 shares during the period. Wellington Management Group LLP raised its position in Soleno Therapeutics by 14.5% in the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company’s stock worth $35,163,000 after acquiring an additional 99,095 shares in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in Soleno Therapeutics by 85.4% in the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after acquiring an additional 267,585 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $69.98 on Friday. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $74.00. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -21.08 and a beta of -2.29. The firm has a 50 day simple moving average of $54.76 and a 200-day simple moving average of $51.93.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLNO. Guggenheim reiterated a “buy” rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Cantor Fitzgerald upped their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Robert W. Baird lifted their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Stifel Nicolaus boosted their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Laidlaw raised their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $99.63.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the sale, the insider now owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their ownership of the stock. 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 over the last quarter. Insiders own 12.30% of the company’s stock.

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.