TimesSquare Capital Management LLC Invests $15.27 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

TimesSquare Capital Management LLC acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 339,774 shares of the company’s stock, valued at approximately $15,273,000.

Other institutional investors also recently modified their holdings of the company. Avanza Fonder AB acquired a new position in shares of Soleno Therapeutics during the 4th quarter worth about $76,000. Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics during the 4th quarter worth about $89,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $155,000. Curi RMB Capital LLC bought a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $202,000. Finally, Intech Investment Management LLC bought a new stake in shares of Soleno Therapeutics during the 3rd quarter worth about $262,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 in the last three months. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Price Performance

SLNO stock opened at $47.48 on Thursday. The company has a 50 day simple moving average of $47.22 and a 200 day simple moving average of $49.95. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -14.30 and a beta of -1.46. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $60.92.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Oppenheimer upped their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $71.20.

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.