Nan Fung Group Holdings Ltd Raises Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Nan Fung Group Holdings Ltd grew its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 79,650 shares of the company's stock after buying an additional 15,700 shares during the quarter. Soleno Therapeutics makes up 3.0% of Nan Fung Group Holdings Ltd's holdings, making the stock its 15th biggest holding. Nan Fung Group Holdings Ltd owned approximately 0.18% of Soleno Therapeutics worth $3,580,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AlphaQuest LLC increased its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE bought a new stake in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics in the fourth quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in Soleno Therapeutics during the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC acquired a new position in Soleno Therapeutics during the 4th quarter worth about $89,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, VP Michael F. Huang sold 14,583 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the completion of the sale, the vice president now directly owns 36,817 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares of the company's stock, valued at $3,811,504.48. The trade was a 69.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 942,672 shares of company stock worth $64,058,781. Corporate insiders own 12.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SLNO shares. Guggenheim restated a "buy" rating and set a $81.00 price objective (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Piper Sandler increased their price target on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group set a $105.00 target price on Soleno Therapeutics in a research report on Thursday, March 27th. Cantor Fitzgerald lifted their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Finally, Robert W. Baird raised their price target 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. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $104.67.

Soleno Therapeutics Stock Performance

SLNO traded up $0.30 during mid-day trading on Thursday, reaching $72.57. 974,633 shares of the stock were exchanged, compared to its average volume of 730,430. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $74.50. The stock has a market capitalization of $3.33 billion, a PE ratio of -21.89 and a beta of -2.29. The company has a 50 day moving average price of $56.41 and a two-hundred day moving average price of $52.52.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly 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). Sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

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.