339,774 Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO) Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 339,774 shares of the company’s stock, valued at approximately $15,273,000. TimesSquare Capital Management LLC owned approximately 0.79% of Soleno Therapeutics at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Avanza Fonder AB acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $76,000. Avior Wealth Management LLC acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Soleno Therapeutics during the third quarter worth approximately $155,000. Curi RMB Capital LLC acquired a new stake in shares of Soleno Therapeutics during the third quarter worth approximately $202,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Soleno Therapeutics during the third quarter worth approximately $262,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $47.48 on Thursday. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $60.92. The stock has a market cap of $2.05 billion, a PE ratio of -14.30 and a beta of -1.46. The firm’s 50 day moving average price is $47.22 and its two-hundred day moving average price is $49.95.

Insider Transactions at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the completion of the sale, the chief financial officer now directly owns 115,089 shares in the company, valued at $5,226,191.49. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock valued at $790,119 over the last three months. 12.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SLNO has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $71.20.

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.