Ensign Peak Advisors Inc Raises Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Ensign Peak Advisors Inc raised its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 95.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,201 shares of the company's stock after buying an additional 4,500 shares during the period. Ensign Peak Advisors Inc's holdings in Soleno Therapeutics were worth $414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLNO. Farallon Capital Management LLC purchased a new position in Soleno Therapeutics in the 4th quarter valued at approximately $4,046,000. Fred Alger Management LLC grew its holdings in Soleno Therapeutics by 140.9% in the fourth quarter. Fred Alger Management LLC now owns 14,805 shares of the company's stock valued at $665,000 after purchasing an additional 8,660 shares during the last quarter. Deutsche Bank AG increased its position in shares of Soleno Therapeutics by 44.8% in the fourth quarter. Deutsche Bank AG now owns 119,455 shares of the company's stock valued at $5,370,000 after buying an additional 36,971 shares in the last quarter. Crestline Management LP acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth $582,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth $3,206,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Stock Performance

NASDAQ SLNO traded up $0.16 during trading hours on Thursday, hitting $73.46. 55,088 shares of the company's stock were exchanged, compared to its average volume of 744,011. The business's 50 day moving average is $67.86 and its 200-day moving average is $55.45. Soleno Therapeutics, Inc. has a 12-month low of $36.93 and a 12-month high of $80.99. The firm has a market capitalization of $3.70 billion, a P/E ratio of -22.01 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results 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. As a group, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insider Activity

In other news, insider Patricia C. Hirano sold 3,782 shares of Soleno Therapeutics stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the transaction, the insider now directly owns 27,036 shares of the company's stock, valued at $1,895,493.96. The trade was a 12.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 577,076 shares in the company, valued at $39,021,879.12. The trade was a 54.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 942,672 shares of company stock valued at $64,058,781 in the last ninety days. Company insiders own 12.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Guggenheim lifted their price objective on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Stifel Nicolaus raised their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Finally, Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics has a consensus rating of "Buy" and an average price target of $106.78.

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.