Vanguard Group Inc. Has $133.35 Million Stock Holdings in Soleno Therapeutics, Inc. $SLNO

Key Points

• The Vanguard Group Inc. reduced its stake in Soleno Therapeutics by 1.0%, holding approximately 1,866,326 shares valued at $133.35 million as of its latest SEC filing.
• In Q1, multiple institutional investors increased their positions in Soleno, with GAMMA Investing LLC boosting their stake by 4,377.3% to own 3,358 shares valued at $240,000.
• Soleno's stock recently opened at $69.80, has a market cap of $3.71 billion, and analysts have set an average price target of $115.09 with multiple "buy" ratings.

Vanguard Group Inc. lessened its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,866,326 shares of the company's stock after selling 18,207 shares during the period. Vanguard Group Inc. owned about 3.74% of Soleno Therapeutics worth $133,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Soleno Therapeutics by 9.2% in the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company's stock worth $1,055,000 after buying an additional 1,983 shares during the period. GAMMA Investing LLC boosted its position in Soleno Therapeutics by 4,377.3% during the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock valued at $240,000 after purchasing an additional 3,283 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Soleno Therapeutics during the first quarter valued at $232,000. Mutual of America Capital Management LLC acquired a new stake in Soleno Therapeutics during the first quarter valued at $5,186,000. Finally, Arizona State Retirement System boosted its position in Soleno Therapeutics by 9.2% during the first quarter. Arizona State Retirement System now owns 7,380 shares of the company's stock valued at $527,000 after purchasing an additional 620 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $69.80 on Friday. Soleno Therapeutics, Inc. has a fifty-two week low of $41.50 and a fifty-two week high of $90.32. The stock's 50-day moving average is $82.16 and its two-hundred day moving average is $69.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 15.13 and a quick ratio of 15.01. The firm has a market cap of $3.71 billion, a P/E ratio of -16.86 and a beta of -2.56.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.44. The company had revenue of $32.66 million for the quarter, compared to the consensus estimate of $3.91 million. On average, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

SLNO has been the subject of a number of research reports. Cowen reissued a "buy" rating on shares of Soleno Therapeutics in a research report on Thursday, August 7th. Guggenheim lifted their price objective on Soleno Therapeutics from $97.00 to $106.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. TD Cowen initiated coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They set a "buy" rating and a $110.00 price objective for the company. 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. Finally, Wall Street Zen raised Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $115.09.

Insider Activity at Soleno Therapeutics

In other 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 transaction, the insider directly owned 13,206 shares in the company, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.40% of the company's stock.

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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