F M Investments LLC Makes New Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

F M Investments LLC acquired a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 47,794 shares of the company's stock, valued at approximately $2,148,000. F M Investments LLC owned about 0.11% of Soleno Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp raised its position in Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company's stock valued at $57,668,000 after acquiring an additional 142,033 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Soleno Therapeutics by 73.8% during the third quarter. Wellington Management Group LLP now owns 683,170 shares of the company's stock worth $34,493,000 after buying an additional 290,135 shares in the last quarter. Barclays PLC grew its position in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company's stock valued at $2,652,000 after buying an additional 31,467 shares during the period. Geode Capital Management LLC increased its holdings in Soleno Therapeutics by 10.5% in the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company's stock valued at $27,286,000 after buying an additional 51,189 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Soleno Therapeutics in the third quarter worth about $656,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Down 1.4 %

NASDAQ:SLNO traded down $0.99 during midday trading on Thursday, reaching $68.94. The company had a trading volume of 384,767 shares, compared to its average volume of 715,811. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $74.00. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -20.76 and a beta of -2.29. The stock's fifty day simple moving average is $54.36 and its 200-day simple moving average is $51.80.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued 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, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLNO. Laidlaw lifted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Robert W. Baird upped their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Stifel Nicolaus boosted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Cantor Fitzgerald raised their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. Finally, HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and an average price target of $99.63.

Insider Activity

In related news, VP Michael F. Huang sold 14,583 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total value of $1,013,664.33. Following the completion of the sale, the vice president now directly owns 36,817 shares of the company's stock, valued at $2,559,149.67. The trade was a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is currently owned by insiders.

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.