Penn Capital Management Company LLC Takes Position in Soleno Therapeutics, Inc. $SLNO

Penn Capital Management Company LLC bought a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 275,782 shares of the company’s stock, valued at approximately $12,797,000. Penn Capital Management Company LLC owned approximately 0.51% of Soleno Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Soleno Therapeutics by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock valued at $141,695,000 after buying an additional 253,212 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Soleno Therapeutics by 25.7% in the 3rd quarter. Avoro Capital Advisors LLC now owns 2,577,777 shares of the company’s stock valued at $174,258,000 after buying an additional 527,777 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Soleno Therapeutics by 272.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,312,095 shares of the company’s stock valued at $156,298,000 after buying an additional 1,691,057 shares in the last quarter. Invesco Ltd. raised its position in shares of Soleno Therapeutics by 132.3% in the 3rd quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock valued at $101,435,000 after buying an additional 854,551 shares in the last quarter. Finally, State Street Corp raised its position in shares of Soleno Therapeutics by 20.2% in the 2nd quarter. State Street Corp now owns 1,404,983 shares of the company’s stock valued at $117,709,000 after buying an additional 235,784 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on SLNO. Cantor Fitzgerald restated a “neutral” rating on shares of Soleno Therapeutics in a research report on Tuesday, May 19th. Piper Sandler lowered shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Wells Fargo & Company set a $53.00 price target on shares of Soleno Therapeutics and gave the company an “equal weight” rating in a report on Friday, April 17th. HC Wainwright lowered shares of Soleno Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $100.00 to $53.00 in a report on Wednesday, April 8th. Finally, Lifesci Capital lowered shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.67.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $53.01 on Wednesday. The firm has a market capitalization of $2.76 billion, a PE ratio of 29.95 and a beta of -2.22. The company has a current ratio of 5.62, a quick ratio of 5.32 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $47.03 and its 200 day moving average is $45.24. Soleno Therapeutics, Inc. has a 1 year low of $29.43 and a 1 year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.16. Soleno Therapeutics had a net margin of 33.70% and a return on equity of 22.85%. The company had revenue of $91.73 million for the quarter, compared to analyst estimates of $88.55 million. Equities research analysts forecast that Soleno Therapeutics, Inc. will post 3.67 earnings per share for the current fiscal year.

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.