Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Purchased by Sei Investments Co.

Sei Investments Co. increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 47.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,444 shares of the company's stock after buying an additional 5,258 shares during the period. Sei Investments Co.'s holdings in Soleno Therapeutics were worth $739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TimesSquare Capital Management LLC purchased a new stake in Soleno Therapeutics during the fourth quarter worth $15,273,000. Wellington Management Group LLP lifted its stake in shares of Soleno Therapeutics by 73.8% during the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company's stock worth $34,493,000 after purchasing an additional 290,135 shares during the last quarter. State Street Corp boosted its position in Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company's stock valued at $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Soleno Therapeutics by 208.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company's stock valued at $9,724,000 after purchasing an additional 130,080 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Soleno Therapeutics by 10.5% in the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company's stock valued at $27,286,000 after purchasing an additional 51,189 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SLNO shares. Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. HC Wainwright upped their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, March 31st. Stifel Nicolaus raised their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Guggenheim reiterated a "buy" rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $99.63.

Insider Activity at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the sale, the insider now directly owns 55,789 shares of the company's stock, valued at $3,811,504.48. This represents a 69.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock traded up $4.36 during trading on Friday, hitting $67.23. 985,354 shares of the company's stock were exchanged, compared to its average volume of 709,460. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $74.00. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of -20.25 and a beta of -2.29. The business has a 50-day simple moving average of $53.20 and a 200-day simple moving average of $51.40.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). On average, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

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.