Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 36,495 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 36,495 shares of Soleno Therapeutics, valued at approximately $2.6 million, increasing its stake to 0.07% as of their recent SEC filing.
• Insider Patricia C. Hirano sold 3,830 shares at an average price of $82.76, representing a 22.48% decrease in her position, which now totals 13,206 shares.
• Analysts generally have a positive outlook on Soleno Therapeutics, with a consensus average target price of $108.70, supported by several buy ratings from firms like Piper Sandler and Guggenheim.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,495 shares of the company's stock, valued at approximately $2,608,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Soleno Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new stake in Soleno Therapeutics during the 1st quarter worth approximately $2,888,000. Atle Fund Management AB increased its position in shares of Soleno Therapeutics by 19.9% in the 1st quarter. Atle Fund Management AB now owns 37,098 shares of the company's stock valued at $2,651,000 after purchasing an additional 6,158 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $288,000. Mutual of America Capital Management LLC purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $5,186,000. Finally, Arizona State Retirement System increased its position in shares of Soleno Therapeutics by 9.2% in the 1st quarter. Arizona State Retirement System now owns 7,380 shares of the company's stock valued at $527,000 after purchasing an additional 620 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Guggenheim increased their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Piper Sandler increased their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Cowen began coverage on shares of Soleno Therapeutics in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Wall Street Zen raised shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, TD Cowen assumed coverage on shares of Soleno Therapeutics in a research report on Monday, June 23rd. They set a "buy" rating and a $110.00 price objective on the stock. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $108.70.

Insider Activity

In related news, insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the transaction, the insider directly owned 13,206 shares of the company's stock, valued at $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.40% of the company's stock.

Soleno Therapeutics Trading Down 0.5%

Shares of SLNO traded down $0.47 during midday trading on Friday, hitting $86.00. The stock had a trading volume of 1,036,872 shares, compared to its average volume of 1,060,714. Soleno Therapeutics, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The business has a 50-day simple moving average of $81.87 and a two-hundred day simple moving average of $66.60. The firm has a market cap of $4.33 billion, a P/E ratio of -18.61 and a beta of -2.63. The company has a current ratio of 19.64, a quick ratio of 19.64 and a debt-to-equity ratio of 0.21.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly 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. As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Soleno Therapeutics Company 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.