Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 48.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 851,838 shares of the company’s stock after buying an additional 276,225 shares during the quarter. Pictet Asset Management Holding SA owned about 1.98% of Soleno Therapeutics worth $38,290,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Corebridge Financial Inc. grew its stake in shares of Soleno Therapeutics by 2.9% in the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock valued at $572,000 after buying an additional 357 shares in the last quarter. Emerald Advisers LLC boosted its holdings in Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after acquiring an additional 267,585 shares during the period. Vanguard Group Inc. increased its stake in Soleno Therapeutics by 19.2% during the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after purchasing an additional 303,806 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $193,000. Finally, Sei Investments Co. boosted its stake in shares of Soleno Therapeutics by 47.0% in the fourth quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock valued at $739,000 after purchasing an additional 5,258 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now owns 76,605 shares in the company, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $185,409.03. Following the transaction, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. This trade represents a 3.43 % 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 valued at $790,119 in the last three months. 12.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird lifted their target price on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday. Cantor Fitzgerald upped their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a report on Thursday. Laidlaw lifted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $94.57.

Soleno Therapeutics Stock Up 6.8 %

Shares of Soleno Therapeutics stock opened at $71.99 on Monday. The firm has a market capitalization of $3.30 billion, a P/E ratio of -21.68 and a beta of -1.70. Soleno Therapeutics, Inc. has a 52 week low of $36.61 and a 52 week high of $73.97. The firm’s 50 day moving average is $48.94 and its two-hundred day moving average is $50.08.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, 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.