HealthInvest Partners AB Invests $1.33 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

HealthInvest Partners AB purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the third quarter, HoldingsChannel.com reports. The firm purchased 26,390 shares of the company’s stock, valued at approximately $1,332,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLNO. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth $31,000. Curi RMB Capital LLC acquired a new position in Soleno Therapeutics during the third quarter worth about $202,000. Intech Investment Management LLC purchased a new position in Soleno Therapeutics in the third quarter valued at about $262,000. Victory Capital Management Inc. lifted its position in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after acquiring an additional 2,236 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after acquiring an additional 2,264 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLNO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. Stifel Nicolaus lifted their price target on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, November 11th. Finally, Oppenheimer lifted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $69.86.

Soleno Therapeutics Stock Up 0.2 %

Shares of NASDAQ:SLNO traded up $0.11 during trading on Thursday, reaching $54.94. The stock had a trading volume of 3,498 shares, compared to its average volume of 467,015. The stock has a market cap of $2.37 billion, a P/E ratio of -16.52 and a beta of -1.44. The business has a fifty day moving average price of $52.97 and a 200-day moving average price of $48.12. Soleno Therapeutics, Inc. has a fifty-two week low of $26.38 and a fifty-two week high of $59.75.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.76 EPS for the current year.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the completion of the sale, the chief executive officer now owns 799,577 shares of the company’s stock, valued at approximately $38,043,873.66. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 701,362 shares of company stock worth $33,970,517. 12.30% of the stock is owned by company insiders.

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.