Pictet Asset Management Holding SA Boosts Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Pictet Asset Management Holding SA grew its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 48.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 851,838 shares of the company’s stock after buying an additional 276,225 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Soleno Therapeutics were worth $38,290,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SLNO. Janus Henderson Group PLC raised its holdings in Soleno Therapeutics by 21.5% during the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after purchasing an additional 722,226 shares in the last quarter. FMR LLC raised its stake in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Soleno Therapeutics in the fourth quarter valued at approximately $15,273,000. Vanguard Group Inc. grew its holdings in Soleno Therapeutics by 19.2% during the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after acquiring an additional 303,806 shares during the period. Finally, Wellington Management Group LLP raised its position in Soleno Therapeutics by 73.8% in the third quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock worth $34,493,000 after acquiring an additional 290,135 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $71.99 on Monday. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $73.97. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of -21.68 and a beta of -1.70. The stock has a fifty day moving average of $48.94 and a two-hundred day moving average of $50.08.

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

Insider Activity

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the transaction, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now owns 708,616 shares in the company, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock valued at $790,119 over the last 90 days. Insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SLNO has been the topic of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lifted their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday. Stifel Nicolaus raised their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Finally, Laidlaw boosted their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $94.57.

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.