Avoro Capital Advisors LLC Increases Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 15.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,525,000 shares of the company's stock after acquiring an additional 344,000 shares during the period. Soleno Therapeutics comprises approximately 1.6% of Avoro Capital Advisors LLC's investment portfolio, making the stock its 16th largest holding. Avoro Capital Advisors LLC owned 5.86% of Soleno Therapeutics worth $113,499,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 303,806 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Soleno Therapeutics by 48.0% during the fourth 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. Wellington Management Group LLP increased its holdings in shares of Soleno Therapeutics by 14.5% in the fourth quarter. Wellington Management Group LLP now owns 782,265 shares of the company's stock valued at $35,163,000 after purchasing an additional 99,095 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Soleno Therapeutics by 10.9% in the fourth quarter. Geode Capital Management LLC now owns 599,119 shares of the company's stock valued at $26,937,000 after purchasing an additional 58,823 shares during the period. Finally, Emerald Advisers LLC boosted its holdings in shares of Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock worth $26,112,000 after buying an additional 267,585 shares during the period. 97.42% of the stock is owned by institutional investors and hedge funds.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock traded down $0.97 on Friday, hitting $73.26. 776,359 shares of the company's stock traded hands, compared to its average volume of 735,511. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -22.07 and a beta of -2.29. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $74.50. The company has a fifty day moving average of $57.41 and a two-hundred day moving average of $52.85.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data 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). Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. UBS Group set a $105.00 price objective on Soleno Therapeutics in a report on Thursday, March 27th. Laidlaw raised their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Cantor Fitzgerald boosted their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird increased their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and an average price target of $104.67.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 128,653 shares of the business's stock in a transaction on 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 directly owns 55,789 shares in the company, valued at $3,811,504.48. The trade was a 69.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value 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 $39,021,879.12. This trade represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock worth $64,058,781 over the last ninety days. 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.