TD Asset Management Inc Raises Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

TD Asset Management Inc raised its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 174.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,534 shares of the company's stock after buying an additional 36,534 shares during the quarter. TD Asset Management Inc owned about 0.17% of Soleno Therapeutics worth $2,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cannon Global Investment Management LLC purchased a new position in Soleno Therapeutics during the first quarter worth about $505,000. Sei Investments Co. grew its position in Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company's stock worth $538,000 after buying an additional 2,264 shares in the last quarter. SG Americas Securities LLC purchased a new position in Soleno Therapeutics during the second quarter worth about $569,000. California State Teachers Retirement System boosted its holdings in shares of 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, Swiss National Bank purchased a new position in shares of Soleno Therapeutics in the 4th quarter worth about $918,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Stock Up 6.5 %

Shares of NASDAQ:SLNO traded up $3.23 during trading on Friday, hitting $52.84. The stock had a trading volume of 995,708 shares, compared to its average volume of 422,773. Soleno Therapeutics, Inc. has a 12 month low of $3.96 and a 12 month high of $54.08. The company has a market capitalization of $2.05 billion, a PE ratio of -19.71 and a beta of -1.46. The firm's fifty day moving average is $47.60 and its 200 day moving average is $44.63.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.06. Equities research analysts expect that Soleno Therapeutics, Inc. will post -2.28 EPS for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, CFO James H. Mackaness sold 7,190 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $298,672.60. Following the completion of the transaction, the chief financial officer now owns 55,763 shares of the company's stock, valued at approximately $2,316,395.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO James H. Mackaness sold 7,190 shares of the company's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $298,672.60. Following the sale, the chief financial officer now owns 55,763 shares in the company, valued at approximately $2,316,395.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 19,256 shares of the company's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $799,894.24. Following the completion of the sale, the chief executive officer now owns 133,534 shares in the company, valued at approximately $5,547,002.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 767,239 shares of company stock valued at $36,744,548. Corporate insiders own 12.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SLNO shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a report on Wednesday, July 31st. HC Wainwright assumed coverage on Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Oppenheimer boosted their target price on Soleno Therapeutics from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Monday, August 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $67.14.

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.