Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC increased its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 268.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 36,830 shares of the company’s stock after purchasing an additional 26,830 shares during the period. ADAR1 Capital Management LLC’s holdings in Soleno Therapeutics were worth $1,656,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SLNO. FMR LLC increased its position in Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after purchasing an additional 665,363 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth $15,273,000. Vanguard Group Inc. boosted its holdings in Soleno Therapeutics by 19.2% in the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after acquiring an additional 303,806 shares during the last quarter. Wellington Management Group LLP grew its position in Soleno Therapeutics by 73.8% during the third quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock valued at $34,493,000 after acquiring an additional 290,135 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in shares of Soleno Therapeutics by 48.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company’s stock worth $38,290,000 after purchasing an additional 276,225 shares during the period. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several recent research reports. Cantor Fitzgerald increased their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday, March 27th. Guggenheim reissued a “buy” rating and set a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Finally, UBS Group set a $105.00 price objective on shares of Soleno Therapeutics in a report on Thursday, March 27th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics presently has an average rating of “Buy” and a consensus target price of $99.63.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $67.48 on Monday. The company’s fifty day moving average is $51.19 and its two-hundred day moving average is $50.72. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $74.00. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -20.33 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data 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). Sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 128,653 shares of the company’s 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 completion of the transaction, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This represents a 69.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is currently owned by company insiders.

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.