Emerald Advisers LLC Grows Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Emerald Advisers LLC increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 6.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313,334 shares of the company's stock after purchasing an additional 20,006 shares during the quarter. Emerald Advisers LLC owned approximately 0.94% of Soleno Therapeutics worth $15,820,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank purchased a new stake in Soleno Therapeutics during the second quarter worth about $31,000. Victory Capital Management Inc. increased its stake in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock worth $438,000 after purchasing an additional 2,236 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company's stock worth $538,000 after purchasing an additional 2,264 shares during the period. California State Teachers Retirement System lifted its stake in Soleno Therapeutics by 33.8% in the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company's stock valued at $590,000 after purchasing an additional 3,481 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Soleno Therapeutics in the second quarter valued at approximately $569,000. 97.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on SLNO shares. HC Wainwright initiated coverage on Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $70.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Oppenheimer raised their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $69.86.

Soleno Therapeutics Price Performance

NASDAQ:SLNO traded up $0.80 during trading hours on Friday, hitting $55.86. The stock had a trading volume of 362,424 shares, compared to its average volume of 823,993. The company has a 50 day simple moving average of $51.16 and a two-hundred day simple moving average of $46.90. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -22.89 and a beta of -1.44. Soleno Therapeutics, Inc. has a one year low of $21.30 and a one year high of $57.28.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $0.06. Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -2.29 earnings per share for the current year.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 6,849 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $45.77, for a total transaction of $313,478.73. Following the sale, the chief financial officer now owns 148,914 shares in the company, valued at $6,815,793.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Soleno Therapeutics news, CFO James H. Mackaness sold 6,849 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $45.77, for a total transaction of $313,478.73. Following the transaction, the chief financial officer now directly owns 148,914 shares in the company, valued at $6,815,793.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at $35,567,504.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 771,441 shares of company stock valued at $37,178,033 in the last quarter. Insiders own 12.30% of the company's stock.

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.