88,799 Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO) Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,799 shares of the company's stock, valued at approximately $3,623,000. Bank of New York Mellon Corp owned 0.27% of Soleno Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vestal Point Capital LP purchased a new stake in Soleno Therapeutics during the 4th quarter valued at about $52,325,000. Carlyle Group Inc. increased its holdings in Soleno Therapeutics by 42.5% during the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company's stock valued at $173,123,000 after buying an additional 1,213,758 shares during the last quarter. Avoro Capital Advisors LLC grew its position in shares of Soleno Therapeutics by 107.0% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company's stock valued at $69,550,000 after acquiring an additional 840,000 shares during the period. Assenagon Asset Management S.A. purchased a new position in Soleno Therapeutics during the second quarter valued at $29,778,000. Finally, Janus Henderson Group PLC increased its position in Soleno Therapeutics by 13.7% in the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company's stock worth $122,698,000 after buying an additional 346,914 shares in the last quarter. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Up 6.5 %

Shares of SLNO traded up $3.23 during midday trading on Friday, reaching $52.84. The company had a trading volume of 995,938 shares, compared to its average volume of 422,774. The firm has a 50 day simple moving average of $47.84 and a 200-day simple moving average of $44.54. The stock has a market cap of $2.05 billion, a PE ratio of -19.72 and a beta of -1.46. Soleno Therapeutics, Inc. has a 1-year low of $3.96 and a 1-year high of $54.08.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.06. As a group, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, CFO James H. Mackaness sold 7,190 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $298,672.60. Following the completion of the sale, the chief financial officer now directly owns 55,763 shares of the company's stock, valued at $2,316,395.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of Soleno Therapeutics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $298,672.60. Following the completion of the transaction, the chief financial officer now owns 55,763 shares in the company, valued at $2,316,395.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bhatnagar Anish sold 19,256 shares of the business's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $799,894.24. Following the completion of the transaction, the chief executive officer now directly owns 133,534 shares of the company's stock, valued at approximately $5,547,002.36. The disclosure for this sale can be found here. Insiders have sold 767,239 shares of company stock worth $36,744,548 over the last three months. Insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. HC Wainwright initiated coverage on Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a "buy" rating and a $70.00 price target on the stock. Finally, Oppenheimer boosted their target price on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an "outperform" rating in a report on Monday, August 12th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Soleno Therapeutics currently has an average rating of "Buy" and an average target price of $67.14.

About Soleno Therapeutics

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.