Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Bought by Carlyle Group Inc.

Carlyle Group Inc. boosted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,857,804 shares of the company's stock after purchasing an additional 564,242 shares during the quarter. Soleno Therapeutics comprises 5.5% of Carlyle Group Inc.'s portfolio, making the stock its 3rd largest holding. Carlyle Group Inc. owned approximately 9.37% of Soleno Therapeutics worth $115,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vivo Capital LLC bought a new stake in Soleno Therapeutics during the third quarter worth approximately $94,523,000. Worth Venture Partners LLC bought a new stake in shares of Soleno Therapeutics in the first quarter valued at approximately $377,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Soleno Therapeutics in the third quarter valued at approximately $39,160,000. RA Capital Management L.P. bought a new stake in shares of Soleno Therapeutics in the third quarter valued at approximately $36,563,000. Finally, Renaissance Technologies LLC boosted its position in shares of Soleno Therapeutics by 121.6% in the second quarter. Renaissance Technologies LLC now owns 550,131 shares of the company's stock valued at $102,000 after acquiring an additional 301,931 shares during the period. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO traded down $1.85 during trading hours on Friday, reaching $37.14. The stock had a trading volume of 257,801 shares, compared to its average volume of 318,605. The business's fifty day moving average is $44.94 and its two-hundred day moving average is $36.98. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -12.51 and a beta of -1.56. Soleno Therapeutics, Inc. has a twelve month low of $2.82 and a twelve month high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.02). Sell-side analysts forecast that Soleno Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SLNO has been the subject of several research reports. Piper Sandler initiated coverage on Soleno Therapeutics in a research report on Monday, February 5th. They issued an "overweight" rating and a $93.00 price objective for the company. Stifel Nicolaus initiated coverage on Soleno Therapeutics in a research report on Tuesday, January 23rd. They issued a "buy" rating and a $63.00 price objective for the company. Finally, Oppenheimer upped their target price on Soleno Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a research note on Tuesday, January 2nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of "Buy" and an average target price of $55.60.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Kristen Yen sold 2,218 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $91,692.12. Following the completion of the transaction, the insider now directly owns 23,422 shares in the company, valued at $968,265.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Bhatnagar Anish sold 2,527 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $48.30, for a total transaction of $122,054.10. Following the sale, the chief executive officer now owns 171,770 shares in the company, valued at $8,296,491. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kristen Yen sold 2,218 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $91,692.12. Following the sale, the insider now owns 23,422 shares in the company, valued at approximately $968,265.48. The disclosure for this sale can be found here. Insiders sold 29,297 shares of company stock worth $1,231,489 over the last three months. 23.70% of the stock is currently owned by corporate insiders.

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.