HealthInvest Partners AB Purchases New Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

HealthInvest Partners AB bought a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,390 shares of the company’s stock, valued at approximately $1,332,000. HealthInvest Partners AB owned about 0.06% of Soleno Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in shares of Soleno Therapeutics by 32.0% during the 1st quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after buying an additional 7,300 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after acquiring an additional 2,264 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in shares of Soleno Therapeutics by 107.0% during the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock worth $69,550,000 after purchasing an additional 840,000 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Soleno Therapeutics in the 1st quarter valued at approximately $6,533,000. Finally, Janus Henderson Group PLC raised its position in Soleno Therapeutics by 13.7% in the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after purchasing an additional 346,914 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of Soleno Therapeutics stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $47.22, for a total value of $4,722,000.00. Following the transaction, the insider now directly owns 6,291,851 shares in the company, valued at approximately $297,101,204.22. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bhatnagar Anish sold 56,613 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the completion of the sale, the chief executive officer now directly owns 799,577 shares of the company’s stock, valued at $38,043,873.66. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 701,362 shares of company stock valued at $33,970,517 over the last ninety days. Insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLNO. Stifel Nicolaus boosted their price objective on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, November 11th. Oppenheimer upped their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Soleno Therapeutics currently has an average rating of “Buy” and a consensus target price of $69.86.

Soleno Therapeutics Stock Performance

NASDAQ SLNO traded up $0.11 during trading on Thursday, reaching $54.94. 3,498 shares of the company’s stock were exchanged, compared to its average volume of 467,015. Soleno Therapeutics, Inc. has a 1 year low of $26.38 and a 1 year high of $59.75. The stock has a market cap of $2.37 billion, a P/E ratio of -16.52 and a beta of -1.44. The company has a 50 day moving average price of $52.97 and a two-hundred day moving average price of $48.12.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Research analysts forecast that Soleno Therapeutics, Inc. will post -3.76 EPS 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.