KLP Kapitalforvaltning AS Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

KLP Kapitalforvaltning AS purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,300 shares of the company's stock, valued at approximately $193,000.

Several other hedge funds have also recently modified their holdings of SLNO. AlphaQuest LLC raised its stake in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE acquired a new position in shares of Soleno Therapeutics in the fourth quarter valued at about $34,000. Avanza Fonder AB purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth about $76,000. Avior Wealth Management LLC acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Soleno Therapeutics in the third quarter valued at approximately $155,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

SLNO stock traded up $4.36 during mid-day trading on Friday, reaching $67.23. 985,354 shares of the company's stock were exchanged, compared to its average volume of 709,460. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $74.00. The stock's 50 day moving average is $53.20 and its 200 day moving average is $51.40. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -20.25 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). On average, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total transaction of $265,156.02. Following the transaction, the insider now directly owns 27,036 shares in the company, valued at approximately $1,895,493.96. The trade was a 12.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael F. Huang sold 14,583 shares of the company's stock in a transaction that occurred 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 owns 36,817 shares of the company's stock, valued at $2,559,149.67. This trade represents a 28.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 942,672 shares of company stock valued at $64,058,781 over the last 90 days. 12.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SLNO. Robert W. Baird raised their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a report on Thursday, March 27th. Cantor Fitzgerald boosted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. HC Wainwright raised their target price on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, March 31st. Guggenheim reiterated a "buy" rating and set a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Finally, Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of "Buy" and an average price target of $99.63.

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.