Tema Etfs LLC Makes New Investment in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Tema Etfs LLC acquired a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,178 shares of the company’s stock, valued at approximately $592,000.

A number of other institutional investors have also recently added to or reduced their stakes in SLNO. Barclays PLC lifted its holdings in 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 buying an additional 31,467 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Soleno Therapeutics by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock worth $703,000 after purchasing an additional 3,666 shares during the last quarter. Avanza Fonder AB bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth about $76,000. Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth about $89,000. Finally, Moody Aldrich Partners LLC bought a new stake in shares of Soleno Therapeutics in the 4th quarter worth about $1,331,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Stock Down 0.1%

Shares of NASDAQ SLNO opened at $75.01 on Friday. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $80.99. The stock has a market capitalization of $3.78 billion, a P/E ratio of -22.59 and a beta of -2.67. The firm’s 50-day moving average price is $66.28 and its two-hundred day moving average price is $55.05.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, equities research analysts expect 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 several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Robert W. Baird boosted their target price on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler increased 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $106.78.

Insiders Place Their Bets

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at approximately $465,075. This represents a 47.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the transaction, the chief executive officer now 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. In the last 90 days, insiders sold 942,672 shares of company stock worth $64,058,781. Insiders own 12.30% of the company’s stock.

About Soleno Therapeutics

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.