Rafferty Asset Management LLC Acquires 9,847 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Rafferty Asset Management LLC raised its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 17.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,480 shares of the company's stock after buying an additional 9,847 shares during the period. Rafferty Asset Management LLC owned about 0.15% of Soleno Therapeutics worth $2,988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Soleno Therapeutics by 9.2% in the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company's stock valued at $1,055,000 after buying an additional 1,983 shares during the period. Barclays PLC increased its stake in shares of Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after purchasing an additional 31,467 shares during the period. Emerald Advisers LLC increased its stake in shares of Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock worth $26,112,000 after purchasing an additional 267,585 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Soleno Therapeutics by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock worth $9,779,000 after purchasing an additional 24,953 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Soleno Therapeutics by 47.0% during the fourth 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 period. Institutional investors own 97.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Robert W. Baird increased their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Laidlaw increased their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Finally, Stifel Nicolaus increased 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. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of "Buy" and a consensus price target of $106.78.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the sale, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This trade represents a 54.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Patricia C. Hirano sold 128,653 shares of the firm's stock in a transaction 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 directly owns 55,789 shares in the company, valued at approximately $3,811,504.48. This represents a 69.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $75.58 on Tuesday. The company has a market capitalization of $3.81 billion, a P/E ratio of -22.77 and a beta of -2.67. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99. The business's 50 day simple moving average is $66.86 and its 200 day simple moving average is $55.19.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.14) by $0.19. On average, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS 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.

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