XTX Topco Ltd Raises Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Key Points

• XTX Topco Ltd significantly increased its stake in Soleno Therapeutics, growing its holdings by 267.2% during the first quarter, now owning 23,105 shares valued at approximately $1.65 million.
• Multiple institutional investors have made moves in Soleno Therapeutics, with one investor, GAMMA Investing LLC, increasing its position by an astonishing 4,377.3% this quarter.
• Analysts show strong confidence in the stock, with a consensus "Buy" rating and an average target price of $108.70, while Soleno recently beat earnings expectations with an EPS of ($0.95).

XTX Topco Ltd increased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 267.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,105 shares of the company's stock after buying an additional 16,813 shares during the quarter. XTX Topco Ltd's holdings in Soleno Therapeutics were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after buying an additional 1,107,166 shares during the period. Nantahala Capital Management LLC raised its holdings in Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock worth $176,607,000 after purchasing an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC lifted 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 worth $113,499,000 after purchasing an additional 344,000 shares during the period. Vanguard Group Inc. boosted its stake in shares of Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock valued at $84,710,000 after purchasing an additional 303,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Soleno Therapeutics by 24.5% during the fourth 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.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics 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 transaction of $316,970.80. Following the completion of the transaction, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. The trade was a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD Cowen began coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They issued a "buy" rating and a $110.00 target price on the stock. Guggenheim raised their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Cowen initiated coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Finally, 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. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $108.70.

Soleno Therapeutics Stock Down 0.5%

Shares of SLNO traded down $0.47 during trading hours on Friday, reaching $86.00. The stock had a trading volume of 1,036,881 shares, compared to its average volume of 1,408,363. The firm has a 50-day simple moving average of $81.87 and a 200 day simple moving average of $66.60. Soleno Therapeutics, Inc. has a 12 month low of $41.50 and a 12 month high of $90.32. 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 company has a market capitalization of $4.33 billion, a price-to-earnings ratio of -18.61 and a beta of -2.56.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. Equities research analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

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.