Vanguard Group Inc. Increases Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Vanguard Group Inc. boosted its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,884,533 shares of the company's stock after purchasing an additional 303,806 shares during the period. Vanguard Group Inc. owned about 4.37% of Soleno Therapeutics worth $84,710,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SLNO. AlphaQuest LLC boosted its position in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares during the period. US Bancorp DE acquired a new position in Soleno Therapeutics during the 4th quarter worth about $34,000. New York State Common Retirement Fund boosted its holdings in Soleno Therapeutics by 13.2% during the 4th quarter. New York State Common Retirement Fund now owns 7,717 shares of the company's stock valued at $347,000 after acquiring an additional 900 shares during the period. Harbor Capital Advisors Inc. grew its position in Soleno Therapeutics by 3.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company's stock valued at $1,676,000 after acquiring an additional 1,248 shares in the last quarter. Finally, Arizona State Retirement System grew its position in Soleno Therapeutics by 27.4% in the 4th quarter. Arizona State Retirement System now owns 6,760 shares of the company's stock valued at $304,000 after acquiring an additional 1,454 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the transaction, the director now owns 6,500 shares of the company's stock, valued at approximately $465,075. This trade represents a 47.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares of the company's stock, valued at $1,895,493.96. The trade was a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 in the last ninety days. Insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLNO. UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Guggenheim restated a "buy" rating and issued a $81.00 price target (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. Robert W. Baird increased their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a research note on Thursday, March 27th. Cantor Fitzgerald boosted their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Finally, Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Soleno Therapeutics has an average rating of "Buy" and a consensus target price of $99.63.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO traded down $0.69 on Tuesday, hitting $69.32. 168,697 shares of the company's stock were exchanged, compared to its average volume of 708,849. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $74.00. The company has a market capitalization of $3.18 billion, a PE ratio of -20.83 and a beta of -2.29. The firm's 50-day moving average is $53.58 and its 200 day moving average is $51.54.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal 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.