Ameritas Investment Partners Inc. Increases Stake in Soleno Therapeutics, Inc. $SLNO

Ameritas Investment Partners Inc. increased its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 53.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,103 shares of the company’s stock after buying an additional 1,426 shares during the period. Ameritas Investment Partners Inc.’s holdings in Soleno Therapeutics were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its holdings in shares of Soleno Therapeutics by 58.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock worth $313,858,000 after acquiring an additional 1,616,720 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Soleno Therapeutics by 47.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock valued at $171,510,000 after purchasing an additional 769,700 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in shares of Soleno Therapeutics during the second quarter valued at approximately $42,089,000. Invesco Ltd. grew its stake in Soleno Therapeutics by 3,789.4% in the first quarter. Invesco Ltd. now owns 467,193 shares of the company’s stock worth $33,381,000 after purchasing an additional 455,181 shares during the period. Finally, Siren L.L.C. grew its stake in Soleno Therapeutics by 106.7% in the first quarter. Siren L.L.C. now owns 727,337 shares of the company’s stock worth $51,968,000 after purchasing an additional 375,519 shares during the period. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Stock Performance

SLNO stock opened at $50.46 on Friday. The stock’s 50 day simple moving average is $58.31 and its 200 day simple moving average is $70.09. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. Soleno Therapeutics, Inc. has a 12-month low of $41.50 and a 12-month high of $90.32. The stock has a market capitalization of $2.71 billion, a PE ratio of -12.19 and a beta of -2.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.39. The business had revenue of $66.02 million during the quarter, compared to analysts’ expectations of $47.46 million. As a group, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLNO shares. Wells Fargo & Company reissued an “overweight” rating and set a $106.00 price objective (down previously from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday, November 5th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. Wolfe Research started coverage on shares of Soleno Therapeutics in a research note on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price objective on the stock. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price (up previously from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and a consensus price target of $111.46.

Soleno Therapeutics 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.