E Fund Management Co. Ltd. Takes $211,000 Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

E Fund Management Co. Ltd. purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,703 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. US Bancorp DE acquired a new position in shares of Soleno Therapeutics in the fourth quarter worth about $34,000. Avanza Fonder AB acquired a new position in Soleno Therapeutics in the 4th quarter worth approximately $76,000. Avior Wealth Management LLC purchased a new position in Soleno Therapeutics during the 4th quarter worth approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics during the 3rd quarter valued at $155,000. Finally, Curi RMB Capital LLC purchased a new stake in shares of Soleno Therapeutics in the third quarter valued at $202,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares of the company’s stock, valued at $5,226,191.49. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This trade represents a 1.52 % 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 worth $790,119 over the last 90 days. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock opened at $44.78 on Monday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -13.49 and a beta of -1.70. The stock has a 50-day simple moving average of $47.16 and a 200-day simple moving average of $49.76. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities research analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the topic of a number of research analyst reports. Stifel Nicolaus started coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird restated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $71.20.

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.