Rafferty Asset Management LLC Purchases 45,076 Shares of Soleno Therapeutics, Inc. $SLNO

Rafferty Asset Management LLC raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 95.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,475 shares of the company’s stock after purchasing an additional 45,076 shares during the quarter. Rafferty Asset Management LLC owned 0.17% of Soleno Therapeutics worth $6,251,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Soleno Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after buying an additional 189 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Soleno Therapeutics by 50.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock valued at $45,236,000 after acquiring an additional 213,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Soleno Therapeutics by 48.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company’s stock valued at $2,909,000 after acquiring an additional 13,211 shares during the period. Nisa Investment Advisors LLC grew its position in Soleno Therapeutics by 287.8% in 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 last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Soleno Therapeutics by 32.9% in the second quarter. Envestnet Asset Management Inc. now owns 5,866 shares of the company’s stock worth $491,000 after purchasing an additional 1,453 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

SLNO opened at $39.06 on Tuesday. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 169.83 and a beta of -3.16. The company has a current ratio of 5.80, a quick ratio of 5.55 and a debt-to-equity ratio of 0.11. Soleno Therapeutics, Inc. has a 12-month low of $32.63 and a 12-month high of $90.32. The business’s fifty day simple moving average is $42.42 and its 200-day simple moving average is $52.86.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $91.73 million during the quarter, compared to analysts’ expectations of $88.55 million. On average, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SLNO shares. Robert W. Baird set a $107.00 target price on Soleno Therapeutics in a research report on Tuesday, January 13th. TD Cowen reduced their price target on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. HC Wainwright reissued a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Finally, Zacks Research downgraded shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $108.38.

Soleno Therapeutics Company 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.