Legato Capital Management LLC Makes New Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Key Points

• Legato Capital Management LLC has made a new investment in Soleno Therapeutics, acquiring 4,335 shares valued at approximately $310,000 during the first quarter.
• Several institutional investors have significantly increased their positions in Soleno Therapeutics, with the largest holder being Vanguard Group Inc., owning over 1.88 million shares worth about $84.71 million.
• Soleno Therapeutics received strong ratings from analysts, with an average target price of $108.70 and a consensus recommendation of "Buy" from a majority of analysts.

Legato Capital Management LLC purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,335 shares of the company's stock, valued at approximately $310,000.

Several other institutional investors have also recently made changes to their positions in SLNO. Swiss National Bank increased its position in shares of Soleno Therapeutics by 27.5% during the 4th quarter. Swiss National Bank now owns 45,900 shares of the company's stock worth $2,063,000 after purchasing an additional 9,900 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Soleno Therapeutics by 50.0% during the 4th quarter. Teacher Retirement System of Texas now owns 6,931 shares of the company's stock worth $312,000 after purchasing an additional 2,309 shares during the last quarter. Sei Investments Co. increased its position in shares of Soleno Therapeutics by 47.0% during the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company's stock worth $739,000 after purchasing an additional 5,258 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $193,000. Finally, Vanguard Group Inc. increased its position in shares of Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock worth $84,710,000 after purchasing an additional 303,806 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SLNO. TD Cowen began coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They set a "buy" rating and a $110.00 price target on the stock. Cowen started coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They set a "buy" rating for the company. Robert W. Baird lifted their target price on Soleno Therapeutics from $105.00 to $121.00 and gave the stock an "outperform" rating in a research note on Friday, July 11th. Stifel Nicolaus lifted their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Guggenheim lifted their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. One investment 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. According to MarketBeat, Soleno Therapeutics presently has an average rating of "Buy" and an average target price of $108.70.

Insider Transactions at Soleno Therapeutics

In related 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 sale, the insider directly owned 13,206 shares in the company, valued at $1,092,928.56. The trade was a 22.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.40% of the stock is owned by company insiders.

Soleno Therapeutics Stock Performance

SLNO opened at $86.47 on Friday. The business has a fifty day simple moving average of $81.02 and a 200 day simple moving average of $65.46. The company has a market capitalization of $4.36 billion, a PE ratio of -18.72 and a beta of -2.63. Soleno Therapeutics, Inc. has a 1 year low of $41.50 and a 1 year high of $90.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 19.64 and a quick ratio of 19.64.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.19. Research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current 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.

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