UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,504 shares of the company's stock after acquiring an additional 5,462 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.06% of Soleno Therapeutics worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLNO. Legal & General Group Plc raised its holdings in shares of Soleno Therapeutics by 9.2% in the 4th quarter. Legal & General Group Plc now owns 23,471 shares of the company's stock worth $1,055,000 after purchasing an additional 1,983 shares during the period. Barclays PLC increased its position in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after buying an additional 31,467 shares during the last quarter. Emerald Advisers LLC raised its stake in shares of Soleno Therapeutics by 85.4% in the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock valued at $26,112,000 after buying an additional 267,585 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Soleno Therapeutics by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock valued at $9,779,000 after buying an additional 24,953 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Soleno Therapeutics by 47.0% during the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company's stock worth $739,000 after acquiring an additional 5,258 shares during the period. Hedge funds and other institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Down 0.8%

Shares of NASDAQ SLNO traded down $0.65 during trading hours on Wednesday, reaching $79.15. 806,442 shares of the stock traded hands, compared to its average volume of 764,482. The company's 50-day simple moving average is $72.80 and its two-hundred day simple moving average is $57.46. The company has a market capitalization of $3.99 billion, a P/E ratio of -23.84 and a beta of -2.69. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly 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, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Stifel Nicolaus raised their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Piper Sandler lifted their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Laidlaw increased their target price on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Guggenheim lifted their price target on Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Soleno Therapeutics presently has an average rating of "Buy" and an average 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 business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the sale, the insider now directly owns 55,789 shares of the company's stock, 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. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 over the last three months. Company 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.