Sofinnova Investments Inc. Has $22.62 Million Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Sofinnova Investments Inc. boosted its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 267.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 554,359 shares of the company's stock after purchasing an additional 403,584 shares during the period. Soleno Therapeutics comprises approximately 1.2% of Sofinnova Investments Inc.'s investment portfolio, making the stock its 22nd biggest position. Sofinnova Investments Inc. owned 1.66% of Soleno Therapeutics worth $22,618,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Carlyle Group Inc. lifted its holdings in shares of Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company's stock worth $173,123,000 after acquiring an additional 1,213,758 shares during the last quarter. Janus Henderson Group PLC increased its position in Soleno Therapeutics by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company's stock worth $122,698,000 after purchasing an additional 346,914 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Soleno Therapeutics by 107.0% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company's stock valued at $69,550,000 after purchasing an additional 840,000 shares during the last quarter. Vestal Point Capital LP bought a new position in Soleno Therapeutics in the 4th quarter valued at approximately $52,325,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Soleno Therapeutics in the second quarter valued at approximately $29,778,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Analyst Upgrades and Downgrades

SLNO has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a report 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 target price for the company. Finally, Oppenheimer lifted their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the company an "outperform" rating in a research note 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.com, the company has an average rating of "Buy" and an average price target of $67.14.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total value of $24,365,000.00. Following the completion of the sale, the insider now directly owns 6,816,851 shares in the company, valued at $332,185,149.23. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of Soleno Therapeutics stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total value of $24,365,000.00. Following the completion of the sale, the insider now directly owns 6,816,851 shares of the company's stock, valued at $332,185,149.23. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kristen Yen sold 2,170 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the transaction, the insider now directly owns 21,252 shares in the company, valued at approximately $882,808.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 767,239 shares of company stock valued at $36,744,548. Corporate insiders own 12.30% of the company's stock.

Soleno Therapeutics Stock Up 0.2 %

Shares of NASDAQ SLNO traded up $0.13 during trading on Tuesday, reaching $52.92. The company had a trading volume of 446,732 shares, compared to its average volume of 422,096. The stock has a market cap of $1.77 billion, a P/E ratio of -19.75 and a beta of -1.46. The company's fifty day moving average price is $48.05 and its 200-day moving average price is $44.57. Soleno Therapeutics, Inc. has a 12 month low of $3.96 and a 12 month high of $54.37.

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