Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by Emerald Advisers LLC

Emerald Advisers LLC increased its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 85.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 580,919 shares of the company’s stock after acquiring an additional 267,585 shares during the period. Emerald Advisers LLC owned approximately 1.35% of Soleno Therapeutics worth $26,112,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares during the last quarter. Barclays PLC increased its holdings in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares during the last quarter. State Street Corp increased its holdings in Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after buying an additional 142,033 shares during the last quarter. Holocene Advisors LP increased its holdings in Soleno Therapeutics by 10.8% in the third quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock valued at $30,009,000 after buying an additional 57,913 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 buying an additional 51,189 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $49.11 on Friday. The stock’s 50-day moving average is $47.71 and its two-hundred day moving average is $49.77. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -14.79 and a beta of -1.70. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, March 3rd. Stifel Nicolaus initiated coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $71.20.

Insider Buying and Selling

In related news, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the sale, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock valued at $790,119 over the last quarter. 12.30% of the stock is currently owned by 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.