Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stake Decreased by Carlyle Group Inc.

Key Points

• Carlyle Group Inc. has reduced its ownership of Soleno Therapeutics, Inc. by 37.4%, retaining a 1.6% stake valued at approximately $61.45 million.
• Soleno Therapeutics reported better-than-expected earnings, with a quarterly revenue of $32.66 million, significantly above the consensus estimate of $3.91 million.
• Analysts have varying opinions on Soleno Therapeutics, with price targets ranging from $97.00 to $145.00, indicating a general buy sentiment for the stock.

Carlyle Group Inc. reduced its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 37.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 860,980 shares of the company's stock after selling 514,666 shares during the quarter. Soleno Therapeutics accounts for about 1.6% of Carlyle Group Inc.'s holdings, making the stock its 2nd biggest position. Carlyle Group Inc. owned approximately 1.73% of Soleno Therapeutics worth $61,448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its stake in Soleno Therapeutics by 24.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after purchasing an additional 522 shares during the last quarter. Avanza Fonder AB boosted its holdings in Soleno Therapeutics by 14.8% during the first quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock worth $144,000 after purchasing an additional 251 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Soleno Therapeutics during the fourth quarter worth about $193,000. Tower Research Capital LLC TRC boosted its holdings in Soleno Therapeutics by 811.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company's stock worth $193,000 after purchasing an additional 3,832 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Soleno Therapeutics during the first quarter worth about $232,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock traded up $3.64 during midday trading on Friday, reaching $82.35. 1,068,500 shares of the stock were exchanged, compared to its average volume of 1,254,333. The company's fifty day moving average is $82.66 and its 200-day moving average is $68.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 15.13. The firm has a market cap of $4.38 billion, a PE ratio of -19.89 and a beta of -2.56. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share 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 the consensus estimate of $3.91 million. On average, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SLNO. Piper Sandler boosted their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Cowen restated a "buy" rating on shares of Soleno Therapeutics in a report on Thursday. Wall Street Zen upgraded shares of Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird set a $121.00 target price on shares of Soleno Therapeutics and gave the company an "outperform" rating in a research note on Friday, July 11th. Finally, HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. One equities research 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. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $113.30.

Insiders Place Their Bets

In other news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the sale, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.40% of the company's stock.

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.