DNB Asset Management AS Acquires New Shares in Soleno Therapeutics, Inc. $SLNO

DNB Asset Management AS bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,665 shares of the company’s stock, valued at approximately $223,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLNO. Nisa Investment Advisors LLC grew its holdings in shares of Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the period. AlphaQuest LLC lifted its position in Soleno Therapeutics by 37.5% in the first quarter. AlphaQuest LLC now owns 983 shares of the company’s stock valued at $70,000 after buying an additional 268 shares during the last quarter. KBC Group NV purchased a new position in Soleno Therapeutics during the second quarter worth about $77,000. Quarry LP acquired a new stake in shares of Soleno Therapeutics during the first quarter valued at about $121,000. Finally, Optimize Financial Inc purchased a new stake in shares of Soleno Therapeutics in the 1st quarter valued at approximately $274,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLNO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Wednesday, October 8th. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 10th. Wolfe Research began coverage on Soleno Therapeutics in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price objective for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $106.00 price objective (down previously from $123.00) on shares of Soleno Therapeutics in a report on Wednesday, November 5th. Finally, Guggenheim reissued a “buy” rating and set a $106.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $111.46.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $49.55 on Thursday. Soleno Therapeutics, Inc. has a 52 week low of $41.50 and a 52 week high of $90.32. The company has a fifty day simple moving average of $58.53 and a two-hundred day simple moving average of $70.45. The company has a quick ratio of 15.01, a current ratio of 15.13 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -11.97 and a beta of -2.92.

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

Soleno Therapeutics Company Profile

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.