72,582 Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO) Bought by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC acquired 72,582 shares of Soleno Therapeutics, Inc. for approximately $5.2 million, representing a 0.15% ownership stake.
• Multiple institutional investors increased their holdings in Soleno Therapeutics, with Janus Henderson Group PLC boosting their stake by 27.1% during the fourth quarter.
• Analysts have raised their price targets for Soleno Therapeutics, with projections reaching up to $121.00 and a consensus average of $113.30 reflecting an overall "buy" rating.

Mutual of America Capital Management LLC bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 72,582 shares of the company's stock, valued at approximately $5,186,000. Mutual of America Capital Management LLC owned 0.15% of Soleno Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its holdings in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after purchasing an additional 1,107,166 shares in the last quarter. Nantahala Capital Management LLC grew its position in Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock worth $176,607,000 after buying an additional 658,518 shares during the period. Avoro Capital Advisors LLC grew its position in Soleno Therapeutics by 15.8% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock worth $113,499,000 after buying an additional 344,000 shares during the period. Vanguard Group Inc. grew its position in Soleno Therapeutics by 19.2% during the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock worth $84,710,000 after buying an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Soleno Therapeutics by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock valued at $73,301,000 after buying an additional 321,223 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Oppenheimer upped their price target on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday. Robert W. Baird set a $121.00 target price on Soleno Therapeutics and gave the company an "outperform" rating in a report on Friday, July 11th. TD Cowen started coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They issued a "buy" rating and a $110.00 price target for the company. Cowen reiterated a "buy" rating on shares of Soleno Therapeutics in a research report on Thursday. Finally, Guggenheim increased their price objective on shares of Soleno Therapeutics from $97.00 to $106.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $113.30.

Soleno Therapeutics Trading Down 3.1%

Soleno Therapeutics stock opened at $78.71 on Friday. The stock has a 50-day moving average price of $82.48 and a 200 day moving average price of $67.85. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32. The stock has a market cap of $3.97 billion, a PE ratio of -19.01 and a beta of -2.56. 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 issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The firm had revenue of $32.66 million for the quarter, compared to analysts' expectations of $3.91 million. Equities research analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the business's stock in a transaction on 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 in the company, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company's stock.

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.

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