Assenagon Asset Management S.A. Buys New Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Assenagon Asset Management S.A. bought a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 434,514 shares of the company's stock, valued at approximately $31,046,000. Assenagon Asset Management S.A. owned approximately 0.95% of Soleno Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of Soleno Therapeutics by 11.8% during the 4th quarter. Rhumbline Advisers now owns 34,395 shares of the company's stock worth $1,546,000 after purchasing an additional 3,624 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Soleno Therapeutics by 13.2% in the 4th quarter. New York State Common Retirement Fund now owns 7,717 shares of the company's stock valued at $347,000 after purchasing an additional 900 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Soleno Therapeutics in the 4th quarter valued at approximately $15,273,000. HealthInvest Partners AB grew its stake in shares of Soleno Therapeutics by 17.2% in the 4th quarter. HealthInvest Partners AB now owns 30,940 shares of the company's stock valued at $1,391,000 after purchasing an additional 4,550 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Soleno Therapeutics by 6.7% in the 4th quarter. Bank of New York Mellon Corp now owns 68,015 shares of the company's stock valued at $3,057,000 after purchasing an additional 4,260 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Robert W. Baird increased their price target on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Laidlaw increased their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Guggenheim increased their price target on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Eight investment 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 has an average rating of "Buy" and an average price target of $106.78.

Insider Buying and Selling at Soleno Therapeutics

In other news, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total value of $424,792.35. Following the transaction, the director now owns 6,500 shares of the company's stock, valued at $465,075. This represents a 47.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of the firm's 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 sale, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. The trade was a 54.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 942,672 shares of company stock worth $64,058,781. Insiders own 6.40% of the company's stock.

Soleno Therapeutics Stock Performance

SLNO traded down $1.00 during mid-day trading on Monday, reaching $78.15. The stock had a trading volume of 481,688 shares, compared to its average volume of 769,133. The stock has a market capitalization of $3.94 billion, a P/E ratio of -23.54 and a beta of -2.69. The firm's fifty day simple moving average is $74.03 and its two-hundred day simple moving average is $58.12. Soleno Therapeutics, Inc. has a 52 week low of $36.93 and a 52 week high of $81.54.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. As a group, analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

About Soleno Therapeutics

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.