Virtus ETF Advisers LLC Sells 514 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Virtus ETF Advisers LLC lessened its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,536 shares of the company’s stock after selling 514 shares during the period. Virtus ETF Advisers LLC’s holdings in Soleno Therapeutics were worth $69,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SLNO. Price T Rowe Associates Inc. MD increased its stake in shares of Soleno Therapeutics by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after purchasing an additional 321,223 shares during the last quarter. Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after purchasing an additional 344,000 shares during the last quarter. Rock Springs Capital Management LP purchased a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $5,578,000. Tower Research Capital LLC TRC increased its stake in shares of Soleno Therapeutics by 811.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,304 shares of the company’s stock worth $193,000 after purchasing an additional 3,832 shares during the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Soleno Therapeutics by 21.7% during the 4th quarter. MetLife Investment Management LLC now owns 15,539 shares of the company’s stock worth $698,000 after purchasing an additional 2,767 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the sale, the insider now directly owns 55,789 shares of the company’s stock, valued at approximately $3,811,504.48. The trade was a 69.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction on 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 sale, the chief executive officer now directly owns 577,076 shares of the company’s stock, valued at $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock valued at $64,058,781 in the last three months. Company insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO opened at $73.64 on Tuesday. The firm has a fifty day moving average price of $57.94 and a two-hundred day moving average price of $53.01. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $74.50. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -22.18 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLNO. Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Laidlaw lifted their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Robert W. Baird lifted their price objective on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, March 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $104.67.

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.