84,830 Shares in Soleno Therapeutics, Inc. $SLNO Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired 84,830 shares of Soleno Therapeutics, worth approximately $6,061,000, representing about 0.17% of the company's stock.
• Wall Street analysts have issued optimistic reports, with target price upgrades for Soleno Therapeutics, including an updated target of $110.00 by HC Wainwright.
• Soleno Therapeutics reported a significant revenue of $32.66 million in its latest quarterly earnings, exceeding analyst expectations of $3.91 million.

Nuveen LLC bought a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 84,830 shares of the company's stock, valued at approximately $6,061,000. Nuveen LLC owned about 0.17% of Soleno Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB increased its holdings in shares of Soleno Therapeutics by 14.8% in the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock worth $144,000 after buying an additional 251 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Soleno Therapeutics in the 1st quarter worth $232,000. GAMMA Investing LLC increased its holdings in shares of Soleno Therapeutics by 4,377.3% in the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after buying an additional 3,283 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Soleno Therapeutics by 72.8% in the 1st quarter. Avior Wealth Management LLC now owns 3,410 shares of the company's stock worth $244,000 after buying an additional 1,437 shares during the last quarter. Finally, Royce & Associates LP bought a new position in shares of Soleno Therapeutics in the 1st quarter worth $286,000. Institutional investors own 97.42% of the company's stock.

Insider Buying and Selling at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics stock in a transaction dated 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 approximately $1,092,928.56. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Robert W. Baird set a $121.00 target price on Soleno Therapeutics and gave the stock an "outperform" rating in a research note on Friday, July 11th. TD Cowen assumed coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating and a $110.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 target price (up previously from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. Wells Fargo & Company assumed coverage on Soleno Therapeutics in a research note on Wednesday, August 20th. They issued an "overweight" rating and a $123.00 target price for the company. Finally, Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $115.09.

Soleno Therapeutics Trading Up 1.1%

Shares of Soleno Therapeutics stock traded up $0.73 during midday trading on Thursday, reaching $68.41. 762,246 shares of the company's stock traded hands, compared to its average volume of 1,657,499. The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. The company has a market cap of $3.64 billion, a PE ratio of -16.52 and a beta of -2.56. The stock has a 50 day moving average of $81.11 and a 200-day moving average of $70.30. Soleno Therapeutics, Inc. has a 12 month low of $41.50 and a 12 month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted 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 firm had revenue of $32.66 million during the quarter, compared to the consensus estimate of $3.91 million. As a group, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Soleno Therapeutics Company 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.