Avanza Fonder AB acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO – Free Report) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,700 shares of the company’s stock, valued at approximately $76,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SLNO. Amalgamated Bank purchased a new position in Soleno Therapeutics in the 2nd quarter valued at about $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $155,000. Curi RMB Capital LLC purchased a new position in shares of Soleno Therapeutics in the third quarter valued at approximately $202,000. Intech Investment Management LLC acquired a new stake in shares of Soleno Therapeutics in the third quarter worth approximately $262,000. Finally, Fred Alger Management LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth approximately $310,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Soleno Therapeutics
In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares in the company, valued at $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,360 shares of company stock valued at $790,119. Company insiders own 12.30% of the company’s stock.
Soleno Therapeutics Stock Up 1.9 %
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on SLNO. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Oppenheimer upped their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $74.83.
Get Our Latest Research Report on SLNO
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.
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