Nan Fung Trinity HK Ltd. Raises Stock Position in Soleno Therapeutics, Inc. $SLNO

Nan Fung Trinity HK Ltd. raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 20.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,850 shares of the company’s stock after purchasing an additional 20,900 shares during the quarter. Nan Fung Trinity HK Ltd. owned about 0.23% of Soleno Therapeutics worth $8,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Mutual Fund Advisers Trust lifted its position in Soleno Therapeutics by 9.1% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 405,651 shares of the company’s stock valued at $33,985,000 after buying an additional 33,954 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Soleno Therapeutics by 255.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 280,984 shares of the company’s stock valued at $18,995,000 after acquiring an additional 201,983 shares during the period. Castleark Management LLC purchased a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at approximately $2,919,000. TD Asset Management Inc lifted its holdings in shares of Soleno Therapeutics by 34.9% in the 2nd quarter. TD Asset Management Inc now owns 99,810 shares of the company’s stock worth $8,362,000 after acquiring an additional 25,800 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Soleno Therapeutics during the 3rd quarter worth approximately $1,000,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company restated an “overweight” rating and set a $114.00 price target (up from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Robert W. Baird set a $107.00 target price on Soleno Therapeutics in a report on Tuesday, January 13th. Wolfe Research set a $60.00 price target on shares of Soleno Therapeutics in a research note on Monday, January 12th. Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $110.62.

Soleno Therapeutics Stock Down 4.9%

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 company has a market capitalization of $2.07 billion, a P/E ratio of -20.96 and a beta of -3.12. The company has a 50 day moving average of $46.58 and a 200 day moving average of $59.80.

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

About Soleno Therapeutics

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.