State of New Jersey Common Pension Fund D Makes New Investment in Soleno Therapeutics, Inc. $SLNO

State of New Jersey Common Pension Fund D purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the third quarter, Holdings Channel.com reports. The fund purchased 30,474 shares of the company’s stock, valued at approximately $2,060,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Soleno Therapeutics during the second quarter worth about $25,000. Nisa Investment Advisors LLC lifted its position in shares of Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Soleno Therapeutics by 97.7% during the 2nd quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock worth $72,000 after acquiring an additional 423 shares in the last quarter. KBC Group NV acquired a new stake in shares of Soleno Therapeutics in the 2nd quarter worth approximately $77,000. Finally, Bessemer Group Inc. increased its stake in Soleno Therapeutics by 2,170.0% in the 3rd quarter. Bessemer Group Inc. now owns 1,362 shares of the company’s stock valued at $92,000 after purchasing an additional 1,302 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SLNO shares. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Wells Fargo & Company reissued an “overweight” rating and issued a $114.00 price objective (up from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Wolfe Research set a $60.00 target price on shares of Soleno Therapeutics in a research report on Monday, January 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 price target (up from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.62.

Soleno Therapeutics Trading Up 4.7%

Shares of SLNO stock opened at $41.01 on Thursday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -22.29 and a beta of -3.16. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $43.01 and a 200 day moving average price of $53.97. Soleno Therapeutics, Inc. has a twelve month low of $36.67 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 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The firm had revenue of $91.73 million for the quarter, compared to analysts’ expectations of $88.55 million. Research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

About Soleno Therapeutics

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.