Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Acquires Shares of 299,244 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 299,244 shares of the company’s stock, valued at approximately $13,451,000. Soleno Therapeutics accounts for approximately 1.6% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s investment portfolio, making the stock its 28th largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. owned 0.69% of Soleno Therapeutics as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC increased its holdings in shares of Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after acquiring an additional 31,467 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Soleno Therapeutics by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock valued at $703,000 after purchasing an additional 3,666 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of Soleno Therapeutics in the fourth quarter worth about $76,000. Avior Wealth Management LLC acquired a new position in shares of Soleno Therapeutics in the fourth quarter worth about $89,000. Finally, Moody Aldrich Partners LLC acquired a new position in shares of Soleno Therapeutics in the fourth quarter worth about $1,331,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 128,653 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the transaction, the insider now owns 55,789 shares of the company’s stock, valued at $3,811,504.48. This represents a 69.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares of the company’s stock, valued at approximately $39,021,879.12. This trade represents a 54.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock worth $64,058,781 in the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO opened at $75.58 on Tuesday. The stock has a market cap of $3.81 billion, a PE ratio of -22.77 and a beta of -2.67. The business has a fifty day moving average of $66.86 and a two-hundred day moving average of $55.19. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.14) by $0.19. Analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research analyst reports. Laidlaw increased their price target 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. Stifel Nicolaus lifted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Piper Sandler raised their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Robert W. Baird raised their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $106.78.

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.