Carlyle Group Inc. Has $61.45 Million Stock Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Carlyle Group Inc. cut its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 37.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 860,980 shares of the company’s stock after selling 514,666 shares during the quarter. Soleno Therapeutics accounts for 1.6% of Carlyle Group Inc.’s portfolio, making the stock its 2nd largest position. Carlyle Group Inc.’s holdings in Soleno Therapeutics were worth $61,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Soleno Therapeutics by 9.2% during the 4th quarter. Legal & General Group Plc now owns 23,471 shares of the company’s stock valued at $1,055,000 after acquiring an additional 1,983 shares during the last quarter. Sei Investments Co. raised its position in shares of Soleno Therapeutics by 47.0% during the fourth quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock worth $739,000 after purchasing an additional 5,258 shares during the period. GAMMA Investing LLC raised its position in shares of Soleno Therapeutics by 4,377.3% during the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company’s stock worth $240,000 after purchasing an additional 3,283 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Soleno Therapeutics by 19.2% during the fourth quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after purchasing an additional 303,806 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Soleno Therapeutics during the first quarter valued at $232,000. Institutional investors own 97.42% of the company’s stock.

Insiders Place Their Bets

In other news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the transaction, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is owned by corporate insiders.

Soleno Therapeutics Stock Down 0.5%

Shares of SLNO opened at $81.19 on Thursday. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32. The firm has a market capitalization of $4.09 billion, a P/E ratio of -17.57 and a beta of -2.56. The company has a 50-day simple moving average of $82.31 and a 200-day simple moving average of $67.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.44. The firm had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SLNO shares. Cowen assumed coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They issued a “buy” rating on the stock. Robert W. Baird set a $121.00 price objective on Soleno Therapeutics and gave the stock an “outperform” rating in a report on Friday, July 11th. TD Cowen started coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a “buy” rating and a $110.00 target price for the company. Guggenheim upped their price target on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Soleno Therapeutics presently has a consensus rating of “Buy” and an average target price of $108.70.

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.