Peregrine Capital Management LLC Makes New Investment in Soleno Therapeutics, Inc. $SLNO

Peregrine Capital Management LLC acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 93,005 shares of the company’s stock, valued at approximately $6,287,000. Peregrine Capital Management LLC owned 0.17% of Soleno Therapeutics at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SLNO. Raymond James Financial Inc. purchased a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at approximately $25,000. Nisa Investment Advisors LLC lifted its holdings in Soleno Therapeutics by 287.8% in the second quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock valued at $45,000 after acquiring an additional 400 shares during the last quarter. Osaic Holdings Inc. grew its position in Soleno Therapeutics by 97.7% in the second quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock worth $72,000 after acquiring an additional 423 shares during the period. KBC Group NV purchased a new position in Soleno Therapeutics in the second quarter worth approximately $77,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Soleno Therapeutics during the second quarter worth $113,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SLNO shares. Zacks Research raised Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. The Goldman Sachs Group set a $125.00 target price on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company reissued an “overweight” rating and issued a $106.00 price target (down from $123.00) on shares of Soleno Therapeutics in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. Three 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $111.46.

Soleno Therapeutics Trading Down 5.5%

NASDAQ SLNO opened at $43.00 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.88 and a current ratio of 16.08. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -23.37 and a beta of -3.12. The firm has a 50 day simple moving average of $48.73 and a 200-day simple moving average of $64.21. Soleno Therapeutics, Inc. has a one year low of $41.50 and a one year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.39. The business had revenue of $66.02 million for the quarter, compared to analysts’ expectations of $47.46 million. Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.