BNP Paribas Financial Markets Purchases New Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

BNP Paribas Financial Markets purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 71,320 shares of the company's stock, valued at approximately $3,206,000. BNP Paribas Financial Markets owned 0.17% of Soleno Therapeutics at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SLNO. Nantahala Capital Management LLC lifted its position in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC lifted its position in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after acquiring an additional 344,000 shares during the period. Vanguard Group Inc. lifted its position in shares of Soleno Therapeutics by 19.2% during the 4th 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 period. Price T Rowe Associates Inc. MD lifted its position in shares of Soleno Therapeutics by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after buying an additional 321,223 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Soleno Therapeutics by 48.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company's stock worth $38,290,000 after buying an additional 276,225 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the transaction, the insider now owns 27,036 shares in the company, valued at $1,895,493.96. The trade was a 12.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 942,672 shares of company stock valued at $64,058,781. Company insiders own 12.30% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SLNO. Stifel Nicolaus upped their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Laidlaw upped their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. HC Wainwright restated a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald upped their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $106.78.

Soleno Therapeutics Stock Up 2.2%

Shares of SLNO opened at $75.07 on Friday. Soleno Therapeutics, Inc. has a 12-month low of $36.93 and a 12-month high of $80.99. The business has a 50-day simple moving average of $65.68 and a two-hundred day simple moving average of $54.93. The stock has a market cap of $3.78 billion, a PE ratio of -22.61 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current 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.

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