Skandinaviska Enskilda Banken AB publ Has $2.09 Million Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Soleno Therapeutics by 107.1%, owning approximately $2.09 million worth of shares after purchasing additional stock.
• Multiple analysts have set new price targets for Soleno Therapeutics, with HC Wainwright maintaining a "buy" rating and a target of $100.00, while Robert W. Baird raised their target to $121.00.
• Insider Patricia C. Hirano sold 3,830 shares of Soleno Therapeutics, resulting in a 22.48% decrease in her ownership position, which is now valued at approximately $1.09 million.

Skandinaviska Enskilda Banken AB publ grew its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 107.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,203 shares of the company's stock after purchasing an additional 15,101 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.06% of Soleno Therapeutics worth $2,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Moody Aldrich Partners LLC lifted its holdings in shares of Soleno Therapeutics by 0.7% in the first quarter. Moody Aldrich Partners LLC now owns 29,810 shares of the company's stock valued at $2,130,000 after purchasing an additional 196 shares in the last quarter. Avanza Fonder AB lifted its holdings in shares of Soleno Therapeutics by 14.8% in the first quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock valued at $144,000 after purchasing an additional 251 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Soleno Therapeutics by 8.6% in the first quarter. SG Americas Securities LLC now owns 4,397 shares of the company's stock valued at $314,000 after purchasing an additional 350 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in shares of Soleno Therapeutics by 2.9% in the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock valued at $572,000 after purchasing an additional 357 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after purchasing an additional 522 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.

Wall Street Analyst Weigh In

SLNO has been the subject of a number of research analyst reports. Piper Sandler increased their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Cowen began coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the company an "outperform" rating in a research report on Friday, July 11th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Finally, TD Cowen assumed coverage on Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Soleno Therapeutics has a consensus rating of "Buy" and an average price target of $108.70.

Insider Buying and Selling

In other news, insider Patricia C. Hirano sold 3,830 shares of the firm's 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 sale, the insider directly owned 13,206 shares of the company's stock, valued at approximately $1,092,928.56. This trade represents a 22.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by insiders.

Soleno Therapeutics Stock Up 0.8%

Soleno Therapeutics stock traded up $0.71 during mid-day trading on Friday, hitting $87.18. 378,332 shares of the company's stock were exchanged, compared to its average volume of 1,056,074. The company has a current ratio of 19.64, a quick ratio of 19.64 and a debt-to-equity ratio of 0.21. The stock has a market cap of $4.39 billion, a P/E ratio of -18.87 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 stock has a 50 day moving average of $81.87 and a two-hundred day moving average of $66.60.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted 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. As a group, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal 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.