Victory Capital Management Inc. Buys 2,782 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Victory Capital Management Inc. raised its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 25.9% in the third quarter, Holdings Channel reports. The firm owned 13,509 shares of the company’s stock after acquiring an additional 2,782 shares during the quarter. Victory Capital Management Inc.’s holdings in Soleno Therapeutics were worth $682,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank bought a new position in shares of Soleno Therapeutics in the second quarter valued at $31,000. SG Americas Securities LLC bought a new position in shares of Soleno Therapeutics in the 2nd quarter valued at about $569,000. California State Teachers Retirement System increased its stake in shares of Soleno Therapeutics by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares during the last quarter. Rhumbline Advisers acquired a new stake in Soleno Therapeutics in the 2nd quarter valued at about $1,189,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at about $1,820,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SLNO. Stifel Nicolaus raised their price objective on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Oppenheimer raised their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, October 28th. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $74.83.

Insiders Place Their Bets

In other Soleno Therapeutics news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares of the company’s stock, valued at $4,026,814.95. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $399,246.11. Following the sale, the chief financial officer now owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,818 shares of company stock worth $1,622,194 in the last quarter. Corporate insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

SLNO stock opened at $55.84 on Friday. Soleno Therapeutics, Inc. has a fifty-two week low of $26.38 and a fifty-two week high of $60.92. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -16.82 and a beta of -1.44. The business’s fifty day moving average price is $53.48 and its two-hundred day moving average price is $48.54.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Research analysts expect that Soleno Therapeutics, Inc. will post -3.76 EPS for the current year.

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.