Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 10.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 540,296 shares of the company's stock after purchasing an additional 51,189 shares during the period. Geode Capital Management LLC owned about 1.25% of Soleno Therapeutics worth $27,286,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SLNO. Amalgamated Bank acquired 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 in the third quarter valued at approximately $155,000. Curi RMB Capital LLC purchased a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $202,000. Intech Investment Management LLC purchased a new position in shares of Soleno Therapeutics during the third quarter valued at approximately $262,000. Finally, Fred Alger Management LLC acquired a new stake in Soleno Therapeutics during the third quarter worth approximately $310,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Soleno Therapeutics news, CFO James H. Mackaness sold 8,077 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the transaction, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. This represents a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the completion of the sale, the chief executive officer now directly owns 719,553 shares of the company's stock, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,818 shares of company stock valued at $1,622,194. Company insiders own 12.30% of the company's stock.

Soleno Therapeutics Trading Down 4.8 %

Shares of Soleno Therapeutics stock traded down $2.24 during trading hours on Friday, reaching $44.82. The stock had a trading volume of 683,374 shares, compared to its average volume of 493,800. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -13.50 and a beta of -1.47. Soleno Therapeutics, Inc. has a 1 year low of $35.70 and a 1 year high of $60.92. The firm has a 50 day simple moving average of $52.05 and a two-hundred day simple moving average of $49.10.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLNO. Oppenheimer boosted their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Robert W. Baird reissued an "outperform" rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. 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. Finally, Stifel Nicolaus reissued a "buy" rating and issued a $74.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Soleno Therapeutics presently has an average rating of "Buy" and a consensus price target of $74.83.

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.