Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Takes $42.09 Million Position in Soleno Therapeutics, Inc. $SLNO

Key Points

• Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. has acquired a $42.09 million stake in Soleno Therapeutics, holding approximately 502,374 shares, making it the firm's 5th largest holding.
• Analysts have set a strong outlook for Soleno Therapeutics with price targets ranging from $110.00 to $125.00, reflecting a generally positive sentiment among brokerages.
• Soleno Therapeutics recently reported earnings of ($0.09) per share, significantly surpassing estimates, with revenues of $32.66 million for the quarter.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 502,374 shares of the company's stock, valued at approximately $42,089,000. Soleno Therapeutics accounts for about 4.9% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s investment portfolio, making the stock its 5th biggest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. owned about 1.00% of Soleno Therapeutics at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. AlphaQuest LLC grew its holdings in shares of Soleno Therapeutics by 37.5% during the first quarter. AlphaQuest LLC now owns 983 shares of the company's stock valued at $70,000 after buying an additional 268 shares during the last quarter. Quarry LP acquired a new position in Soleno Therapeutics during the 1st quarter valued at about $121,000. Oppenheimer & Co. Inc. acquired a new position in Soleno Therapeutics during the 1st quarter valued at about $232,000. GAMMA Investing LLC boosted its stake in Soleno Therapeutics by 4,377.3% during the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock valued at $240,000 after purchasing an additional 3,283 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Soleno Therapeutics by 72.8% during the 1st quarter. Avior Wealth Management LLC now owns 3,410 shares of the company's stock valued at $244,000 after purchasing an additional 1,437 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLNO. Robert W. Baird set a $121.00 target price on Soleno Therapeutics and gave the company an "outperform" rating in a research report on Friday, July 11th. Oppenheimer lifted their price objective on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. HC Wainwright reaffirmed a "buy" rating and set a $110.00 price objective (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. The Goldman Sachs Group set a $125.00 price target on shares of Soleno Therapeutics and gave the stock a "buy" rating in a report on Tuesday. Finally, TD Cowen initiated coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating and a $110.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $115.92.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $63.76 on Friday. The company has a market cap of $3.39 billion, a PE ratio of -15.40 and a beta of -2.75. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32. The company has a quick ratio of 15.01, a current ratio of 15.13 and a debt-to-equity ratio of 0.21. The firm's 50-day simple moving average is $66.76 and its two-hundred day simple moving average is $73.54.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Research analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current 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.

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