UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 5,462 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 24.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,504 shares of the company’s stock after purchasing an additional 5,462 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.06% of Soleno Therapeutics worth $1,236,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc increased its position in Soleno Therapeutics by 9.2% in the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company’s stock worth $1,055,000 after buying an additional 1,983 shares during the last quarter. Barclays PLC grew its stake in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after acquiring an additional 31,467 shares during the period. Emerald Advisers LLC increased its holdings in Soleno Therapeutics by 85.4% in the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock worth $26,112,000 after acquiring an additional 267,585 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Soleno Therapeutics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock worth $9,779,000 after acquiring an additional 24,953 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Soleno Therapeutics by 47.0% in the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock valued at $739,000 after acquiring an additional 5,258 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

SLNO has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Laidlaw increased their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird boosted their price target on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Guggenheim upped their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, Piper Sandler increased their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $106.78.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO opened at $77.73 on Tuesday. Soleno Therapeutics, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $80.99. The company has a market cap of $3.92 billion, a PE ratio of -23.41 and a beta of -2.69. The business has a 50-day simple moving average of $72.64 and a two-hundred day simple moving average of $57.31.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $71.55, for a total transaction of $424,792.35. Following the sale, the director now directly owns 6,500 shares in the company, valued at $465,075. This represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Patricia C. Hirano sold 3,782 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now directly owns 27,036 shares in the company, valued at $1,895,493.96. This represents a 12.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 in the last 90 days. Insiders own 12.30% of the company’s stock.

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.