Charles Schwab Investment Management Inc. Acquires 130,080 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Charles Schwab Investment Management Inc. increased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 208.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,597 shares of the company's stock after buying an additional 130,080 shares during the period. Charles Schwab Investment Management Inc. owned 0.45% of Soleno Therapeutics worth $9,724,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Soleno Therapeutics in the second quarter valued at approximately $29,778,000. Nantahala Capital Management LLC grew its position in Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company's stock valued at $125,750,000 after purchasing an additional 671,728 shares during the period. Avoro Capital Advisors LLC grew its position in Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company's stock valued at $85,340,000 after purchasing an additional 466,666 shares during the period. Sofinnova Investments Inc. increased its stake in Soleno Therapeutics by 267.7% during the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company's stock valued at $22,618,000 after purchasing an additional 403,584 shares in the last quarter. Finally, Samlyn Capital LLC raised its holdings in Soleno Therapeutics by 128.9% during the second quarter. Samlyn Capital LLC now owns 501,049 shares of the company's stock worth $20,443,000 after buying an additional 282,122 shares during the last quarter. 97.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of analyst reports. Stifel Nicolaus reiterated a "buy" rating and set a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reiterated an "outperform" rating and set a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer boosted their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. HC Wainwright restated a "buy" rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $74.83.

Insider Activity at Soleno Therapeutics

In related news, CFO James H. Mackaness sold 8,077 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the transaction, the chief financial officer now owns 119,172 shares in the company, valued at approximately $5,890,671.96. This represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 21,633 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the transaction, the chief executive officer now directly owns 719,553 shares of the company's stock, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,818 shares of company stock worth $1,622,194. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO traded down $0.72 during midday trading on Tuesday, reaching $47.20. The company's stock had a trading volume of 490,887 shares, compared to its average volume of 485,418. The stock has a market capitalization of $2.04 billion, a P/E ratio of -14.43 and a beta of -1.47. The firm has a 50 day moving average price of $53.63 and a 200-day moving average price of $48.89. Soleno Therapeutics, Inc. has a 12-month low of $34.82 and a 12-month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, equities analysts predict that Soleno Therapeutics, Inc. will post -3.7 EPS 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.