Tema Etfs LLC Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Tema Etfs LLC purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,178 shares of the company's stock, valued at approximately $592,000.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock worth $233,130,000 after acquiring an additional 1,107,166 shares during the last quarter. Nantahala Capital Management LLC boosted its position in shares of Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after purchasing an additional 658,518 shares during the period. Avoro Capital Advisors LLC boosted its position in shares of Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after purchasing an additional 344,000 shares during the period. TimesSquare Capital Management LLC purchased a new position in Soleno Therapeutics in the 4th quarter worth about $15,273,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Soleno Therapeutics by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after buying an additional 321,223 shares during the period. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Trading Down 2.3%

SLNO stock traded down $1.75 during midday trading on Wednesday, reaching $73.30. The company had a trading volume of 514,263 shares, compared to its average volume of 746,666. The company has a 50 day moving average of $67.38 and a two-hundred day moving average of $55.33. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99. The company has a market capitalization of $3.69 billion, a P/E ratio of -22.08 and a beta of -2.67.

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

Wall Street Analyst Weigh In

Several brokerages have commented on SLNO. Piper Sandler raised their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Robert W. Baird upped their price target on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Laidlaw lifted their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Finally, 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. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $106.78.

Insiders Place Their Bets

In other Soleno Therapeutics news, CFO James H. Mackaness sold 90,622 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now directly owns 105,176 shares of the company's stock, valued at $7,303,421.44. This represents a 46.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at $39,021,879.12. This represents a 54.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last three months. Insiders own 12.30% of the company's stock.

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.