Rhumbline Advisers Acquires 2,044 Shares of Soleno Therapeutics, Inc. $SLNO

Rhumbline Advisers grew its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,439 shares of the company’s stock after purchasing an additional 2,044 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of Soleno Therapeutics worth $2,604,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SLNO. Adage Capital Partners GP L.L.C. boosted its stake in shares of Soleno Therapeutics by 58.2% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock valued at $313,858,000 after purchasing an additional 1,616,720 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Soleno Therapeutics by 47.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock worth $171,510,000 after acquiring an additional 769,700 shares during the last quarter. Invesco Ltd. boosted its stake in Soleno Therapeutics by 3,789.4% during the 1st quarter. Invesco Ltd. now owns 467,193 shares of the company’s stock worth $33,381,000 after acquiring an additional 455,181 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Soleno Therapeutics during the 1st quarter worth approximately $31,046,000. Finally, Siren L.L.C. boosted its stake in Soleno Therapeutics by 106.7% during the 1st quarter. Siren L.L.C. now owns 727,337 shares of the company’s stock worth $51,968,000 after acquiring an additional 375,519 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

SLNO has been the topic of several recent analyst reports. Wall Street Zen raised shares of Soleno Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. Cowen reaffirmed a “buy” rating on shares of Soleno Therapeutics in a research note on Thursday, August 7th. Wells Fargo & Company started coverage on shares of Soleno Therapeutics in a research note on Wednesday, August 20th. They issued an “overweight” rating and a $123.00 price target on the stock. Finally, TD Cowen started coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a “buy” rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company’s stock. Based on data from MarketBeat, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $115.09.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares of the company’s stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Soleno Therapeutics Stock Down 2.9%

SLNO stock opened at $49.71 on Wednesday. The firm has a 50-day moving average price of $75.66 and a 200-day moving average price of $71.87. Soleno Therapeutics, Inc. has a 12 month low of $41.50 and a 12 month high of $90.32. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.64 billion, a P/E ratio of -12.01 and a beta of -2.72.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.44. The firm had revenue of $32.66 million during the quarter, compared to analyst estimates of $3.91 million. As a group, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

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.