Soleno Therapeutics, Inc. $SLNO Stake Reduced by Vivo Capital LLC

Vivo Capital LLC reduced its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 11.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,958,294 shares of the company’s stock after selling 500,000 shares during the quarter. Soleno Therapeutics makes up about 33.9% of Vivo Capital LLC’s holdings, making the stock its biggest holding. Vivo Capital LLC owned about 7.45% of Soleno Therapeutics worth $331,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SLNO. Adage Capital Partners GP L.L.C. boosted its stake in shares of Soleno Therapeutics by 58.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock valued at $313,858,000 after purchasing an additional 1,616,720 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Soleno Therapeutics by 47.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock valued at $171,510,000 after buying an additional 769,700 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Soleno Therapeutics during the second quarter valued at $42,089,000. Invesco Ltd. raised its holdings in Soleno Therapeutics by 3,789.4% in the first quarter. Invesco Ltd. now owns 467,193 shares of the company’s stock worth $33,381,000 after buying an additional 455,181 shares during the last quarter. Finally, Siren L.L.C. increased its holdings in shares of Soleno Therapeutics by 106.7% in the 1st quarter. Siren L.L.C. now owns 727,337 shares of the company’s stock worth $51,968,000 after purchasing an additional 375,519 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLNO. Wolfe Research started coverage on shares of Soleno Therapeutics in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Wednesday, October 8th. Wells Fargo & Company restated an “overweight” rating and issued a $106.00 price objective (down from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday, November 5th. Guggenheim reaffirmed a “buy” rating and set a $106.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, August 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $110.00 target price (up from $100.00) on shares of Soleno Therapeutics in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Soleno Therapeutics currently has an average rating of “Buy” and an average price target of $111.46.

Soleno Therapeutics Stock Down 0.4%

Shares of SLNO stock opened at $51.18 on Tuesday. Soleno Therapeutics, Inc. has a 1-year low of $41.50 and a 1-year high of $90.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -27.82 and a beta of -3.15. The stock’s fifty day moving average price is $56.89 and its 200 day moving average price is $69.05.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The firm had revenue of $66.02 million for the quarter, compared to analyst estimates of $47.46 million. On average, research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

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.