Curi RMB Capital LLC Buys New Shares in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Curi RMB Capital LLC purchased a new position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,000 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics in the 2nd quarter worth $31,000. Victory Capital Management Inc. lifted its holdings in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after purchasing an additional 2,236 shares during the last quarter. Sei Investments Co. boosted its position in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares during the period. California State Teachers Retirement System increased its stake in Soleno Therapeutics by 33.8% in 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Soleno Therapeutics during the 2nd quarter worth about $569,000. Institutional investors own 97.42% of the company’s stock.

Insider Activity

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the transaction, the chief executive officer now directly owns 799,577 shares in the company, valued at $38,043,873.66. This trade represents a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James H. Mackaness sold 6,661 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $316,930.38. Following the completion of the sale, the chief financial officer now owns 134,119 shares of the company’s stock, valued at approximately $6,381,382.02. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 701,362 shares of company stock worth $33,970,517 in the last three months. 12.30% of the stock is owned by insiders.

Soleno Therapeutics Stock Performance

Shares of SLNO opened at $51.80 on Friday. The company has a market capitalization of $2.23 billion, a PE ratio of -15.60 and a beta of -1.44. The company’s 50 day moving average price is $52.74 and its 200 day moving average price is $47.98. Soleno Therapeutics, Inc. has a 52 week low of $22.20 and a 52 week high of $59.75.

Soleno Therapeutics (NASDAQ:SLNO) last posted 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). On average, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLNO has been the subject of several recent analyst reports. Oppenheimer raised their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, November 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, Stifel Nicolaus increased their target price on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $69.86.

Soleno Therapeutics 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.