Ensign Peak Advisors Inc Increases Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Ensign Peak Advisors Inc lifted its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 95.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,201 shares of the company's stock after purchasing an additional 4,500 shares during the quarter. Ensign Peak Advisors Inc's holdings in Soleno Therapeutics were worth $414,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its stake in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company's stock valued at $2,652,000 after acquiring an additional 31,467 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Soleno Therapeutics by 35.8% during the third quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company's stock valued at $703,000 after buying an additional 3,666 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Soleno Therapeutics in the fourth quarter worth about $76,000. Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics in the 4th quarter valued at about $89,000. Finally, Moody Aldrich Partners LLC bought a new position in Soleno Therapeutics during the 4th quarter worth approximately $1,331,000. 97.42% of the stock is currently owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Patricia C. Hirano sold 3,782 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the transaction, the insider now owns 27,036 shares of the company's stock, valued at $1,895,493.96. The trade was a 12.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last ninety days. 12.30% of the stock is currently owned by corporate insiders.

Soleno Therapeutics Trading Down 0.7%

Soleno Therapeutics stock traded down $0.53 on Tuesday, hitting $75.05. 609,032 shares of the stock traded hands, compared to its average volume of 744,043. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99. The firm has a market cap of $3.78 billion, a P/E ratio of -22.61 and a beta of -2.67. The business's fifty day simple moving average is $66.86 and its 200 day simple moving average is $55.19.

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

Wall Street Analyst Weigh In

SLNO has been the subject of several analyst reports. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Piper Sandler raised their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Laidlaw increased their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, Robert W. Baird lifted their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $106.78.

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.