Nuveen Asset Management LLC Purchases 3,627 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Nuveen Asset Management LLC boosted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,105 shares of the company's stock after purchasing an additional 3,627 shares during the quarter. Nuveen Asset Management LLC owned about 0.15% of Soleno Therapeutics worth $2,837,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AlphaQuest LLC lifted its stake in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares during the last quarter. US Bancorp DE bought a new position in Soleno Therapeutics in the 4th quarter worth $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics during the 4th quarter worth $81,000. Summit Investment Advisors Inc. boosted its holdings in Soleno Therapeutics by 24.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after acquiring an additional 522 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Soleno Therapeutics during the fourth quarter valued at about $193,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Stock Up 0.4%

Shares of SLNO stock traded up $0.29 during mid-day trading on Friday, reaching $75.51. The stock had a trading volume of 594,117 shares, compared to its average volume of 760,321. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $80.99. The firm has a market cap of $3.81 billion, a PE ratio of -22.74 and a beta of -2.67. The firm's 50 day simple moving average is $72.42 and its 200 day simple moving average is $56.97.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.19. Sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now owns 577,076 shares of the company's stock, valued at $39,021,879.12. This represents a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the completion of the sale, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This represents a 69.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Guggenheim boosted their price objective on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Cantor Fitzgerald raised their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. HC Wainwright reiterated a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Laidlaw increased their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and a consensus price target of $106.78.

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.