E Fund Management Co. Ltd. Buys New Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

E Fund Management Co. Ltd. bought a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,703 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after acquiring an additional 665,363 shares during the period. Barclays PLC raised its position in Soleno Therapeutics by 149.3% in the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after purchasing an additional 31,467 shares in the last quarter. State Street Corp raised its position in Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Holocene Advisors LP lifted its stake in Soleno Therapeutics by 10.8% during the third quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after purchasing an additional 57,913 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after buying an additional 51,189 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Activity

In related news, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares in the company, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,360 shares of company stock valued at $790,119. Company insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, March 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Stifel Nicolaus started coverage on shares of Soleno Therapeutics in a research note on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price for the company. Finally, Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $71.20.

Soleno Therapeutics Trading Down 0.4 %

SLNO opened at $44.78 on Monday. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $60.92. The stock has a market capitalization of $2.05 billion, a PE ratio of -13.49 and a beta of -1.70. The firm has a 50-day moving average price of $47.16 and a two-hundred day moving average price of $49.76.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

About Soleno Therapeutics

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.