Soleno Therapeutics, Inc. $SLNO Shares Purchased by Atle Fund Management AB

Atle Fund Management AB boosted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 48.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,156 shares of the company’s stock after acquiring an additional 19,624 shares during the quarter. Soleno Therapeutics accounts for approximately 1.6% of Atle Fund Management AB’s investment portfolio, making the stock its 24th biggest position. Atle Fund Management AB owned 0.11% of Soleno Therapeutics worth $4,067,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in shares of Soleno Therapeutics in the second quarter valued at approximately $42,089,000. Sofinnova Investments Inc. lifted its holdings in Soleno Therapeutics by 1,026.2% during the 2nd quarter. Sofinnova Investments Inc. now owns 415,219 shares of the company’s stock worth $34,787,000 after buying an additional 460,048 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Soleno Therapeutics by 1,206.9% in the second quarter. Balyasny Asset Management L.P. now owns 361,605 shares of the company’s stock worth $30,295,000 after acquiring an additional 394,273 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Soleno Therapeutics by 46.6% in the second quarter. Geode Capital Management LLC now owns 902,396 shares of the company’s stock worth $75,611,000 after acquiring an additional 286,660 shares in the last quarter. Finally, State Street Corp increased its position in shares of Soleno Therapeutics by 20.2% during the second quarter. State Street Corp now owns 1,404,983 shares of the company’s stock worth $117,709,000 after acquiring an additional 235,784 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $38.56 on Friday. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10. Soleno Therapeutics, Inc. has a 52 week low of $37.95 and a 52 week high of $90.32. The firm’s 50 day moving average is $46.58 and its two-hundred day moving average is $59.63. The firm has a market capitalization of $2.07 billion, a P/E ratio of -20.96 and a beta of -3.12.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.39. The company had revenue of $66.02 million during the quarter, compared to analyst estimates of $47.46 million. Research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group set a $125.00 target price on Soleno Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 7th. Wells Fargo & Company reissued an “overweight” rating and set a $114.00 price objective (up from $106.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Wolfe Research set a $60.00 target price on shares of Soleno Therapeutics in a report on Monday, January 12th. Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. Finally, Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $110.62.

Soleno Therapeutics Profile

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.