Soleno Therapeutics, Inc. (NASDAQ:SLNO) Position Increased by Swiss National Bank

Swiss National Bank boosted its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 27.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,900 shares of the company's stock after buying an additional 9,900 shares during the quarter. Swiss National Bank owned 0.11% of Soleno Therapeutics worth $2,063,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company's stock worth $33,595,000 after acquiring an additional 665,363 shares in the last quarter. Barclays PLC boosted its position in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after purchasing an additional 31,467 shares in the last quarter. State Street Corp grew its holdings in Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company's stock valued at $57,668,000 after purchasing an additional 142,033 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock valued at $9,779,000 after buying an additional 24,953 shares in the last quarter. Finally, Holocene Advisors LP increased its position in shares of Soleno Therapeutics by 10.8% in the third quarter. Holocene Advisors LP now owns 594,364 shares of the company's stock valued at $30,009,000 after buying an additional 57,913 shares in the last quarter. 97.42% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Soleno Therapeutics Stock Down 0.8 %

Shares of NASDAQ SLNO traded down $0.54 on Monday, hitting $71.45. The company had a trading volume of 4,004,984 shares, compared to its average volume of 649,585. Soleno Therapeutics, Inc. has a 12-month low of $36.61 and a 12-month high of $73.97. The firm has a market capitalization of $3.28 billion, a P/E ratio of -21.52 and a beta of -1.70. The business has a 50 day moving average of $49.44 and a two-hundred day moving average of $50.23.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). On average, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday. Guggenheim reissued a "buy" rating and issued a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a report on Friday. Lifesci Capital raised Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a report on Friday. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and a consensus target price of $98.86.

Insider Buying and Selling

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares in the company, valued at $5,226,191.49. This represents a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Patricia C. Hirano sold 128,653 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was 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 $3,811,504.48. The trade was a 69.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 956,250 shares of company stock valued at $64,583,745 in the last quarter. Company insiders own 12.30% of the company's stock.

Soleno Therapeutics Company 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.