Soleno Therapeutics, Inc. $SLNO Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 12.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,807,149 shares of the company’s stock after purchasing an additional 319,317 shares during the period. Vanguard Group Inc. owned about 0.05% of Soleno Therapeutics worth $189,763,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Soleno Therapeutics by 52.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 407,444 shares of the company’s stock worth $27,543,000 after acquiring an additional 140,779 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Soleno Therapeutics during the third quarter worth $2,060,000. TimesSquare Capital Management LLC increased its holdings in Soleno Therapeutics by 52.6% in the third quarter. TimesSquare Capital Management LLC now owns 377,566 shares of the company’s stock valued at $25,523,000 after buying an additional 130,197 shares during the last quarter. Rhumbline Advisers increased its holdings in Soleno Therapeutics by 1.4% in the third quarter. Rhumbline Advisers now owns 59,860 shares of the company’s stock valued at $4,047,000 after buying an additional 814 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in Soleno Therapeutics by 95.2% in the third quarter. Profund Advisors LLC now owns 19,839 shares of the company’s stock valued at $1,341,000 after buying an additional 9,677 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

SLNO has been the topic of several research analyst reports. Wells Fargo & Company cut their target price on Soleno Therapeutics from $114.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday. Wall Street Zen cut shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. HC Wainwright restated a “buy” rating and issued a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Finally, TD Cowen decreased their price objective on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.38.

Soleno Therapeutics Stock Down 0.0%

Soleno Therapeutics stock opened at $39.06 on Tuesday. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 169.83 and a beta of -3.16. The company has a current ratio of 5.80, a quick ratio of 5.55 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $42.42 and a two-hundred day moving average of $52.86. Soleno Therapeutics, Inc. has a twelve month low of $32.63 and a twelve month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $91.73 million for the quarter, compared to analyst estimates of $88.55 million. As a group, research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc is a clinical?stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small?molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.