Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by Nan Fung Group Holdings Ltd

Nan Fung Group Holdings Ltd increased its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 24.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,650 shares of the company’s stock after purchasing an additional 15,700 shares during the quarter. Soleno Therapeutics comprises about 3.0% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 15th biggest holding. Nan Fung Group Holdings Ltd’s holdings in Soleno Therapeutics were worth $3,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AlphaQuest LLC grew its holdings in Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth $34,000. Avanza Fonder AB purchased a new position in shares of Soleno Therapeutics in the 4th quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics during the fourth quarter valued at about $81,000. Finally, Avior Wealth Management LLC acquired a new stake in Soleno Therapeutics during the fourth quarter worth about $89,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Activity

In related news, CFO James H. Mackaness sold 90,622 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now directly owns 105,176 shares of the company’s stock, valued at approximately $7,303,421.44. The trade was a 46.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 942,672 shares of company stock worth $64,058,781. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $69.98 on Friday. The company’s fifty day moving average is $55.17 and its two-hundred day moving average is $52.07. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $74.00. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -21.08 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). Sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research analyst reports. Laidlaw increased their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. HC Wainwright restated a “buy” rating and set a $100.00 target price on shares of Soleno Therapeutics in a report on Tuesday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $81.00 price objective (up previously from $70.00) on shares of Soleno Therapeutics in a research note on Friday, March 28th. Finally, Cantor Fitzgerald increased their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Seven equities 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, Soleno Therapeutics presently has an average rating of “Buy” and a consensus target price of $99.63.

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.