Hsbc Holdings PLC Invests $10.93 Million in Soleno Therapeutics, Inc. $SLNO

Key Points

• Hsbc Holdings PLC acquired a new stake in Soleno Therapeutics, purchasing 152,957 shares valued at approximately $10.93 million, representing around 0.30% of the company's stock.
• Soleno Therapeutics' stock has experienced a decrease of 1.8%, with a current trading price of $68.57 and significant institutional ownership at 97.42%.
• In the latest earnings report, Soleno Therapeutics surpassed analysts' expectations by reporting ($0.09) earnings per share, compared to the consensus estimate of ($0.53), alongside revenues of $32.66 million.

Hsbc Holdings PLC bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 152,957 shares of the company's stock, valued at approximately $10,928,000. Hsbc Holdings PLC owned about 0.30% of Soleno Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its position in Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after acquiring an additional 1,107,166 shares during the last quarter. Nantahala Capital Management LLC grew its position in Soleno Therapeutics by 20.1% in the fourth 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 last quarter. Price T Rowe Associates Inc. MD grew its position 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 acquiring an additional 321,223 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Soleno Therapeutics by 37.4% in the first quarter. Westfield Capital Management Co. LP now owns 1,211,245 shares of the company's stock valued at $86,543,000 after acquiring an additional 329,785 shares during the last quarter. Finally, Vestal Point Capital LP grew its position in Soleno Therapeutics by 47.2% in the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company's stock valued at $47,647,000 after acquiring an additional 340,000 shares during the last quarter. Institutional investors own 97.42% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wells Fargo & Company started coverage on Soleno Therapeutics in a report on Wednesday, August 20th. They set an "overweight" rating and a $123.00 price target on the stock. Wall Street Zen upgraded Soleno Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Oppenheimer boosted their price target on Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $110.00 target price (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $115.09.

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction of $316,970.80. Following the transaction, the insider directly owned 13,206 shares in the company, valued at $1,092,928.56. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by insiders.

Soleno Therapeutics Stock Performance

Shares of SLNO stock traded down $1.93 on Wednesday, hitting $67.68. 1,069,716 shares of the stock were exchanged, compared to its average volume of 1,677,345. The firm's 50 day moving average is $81.33 and its two-hundred day moving average is $70.18. The firm has a market capitalization of $3.60 billion, a PE ratio of -16.35 and a beta of -2.56. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. Soleno Therapeutics, Inc. has a one year low of $41.50 and a one year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to analysts' expectations of $3.91 million. Sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal 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.