Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 6.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,634 shares of the company’s stock after purchasing an additional 3,226 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Soleno Therapeutics worth $2,657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Amalgamated Bank purchased a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $31,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics during the 3rd quarter worth $202,000. Intech Investment Management LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth $262,000. Victory Capital Management Inc. lifted its stake in shares of Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after buying an additional 2,236 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after acquiring an additional 3,481 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SLNO. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer raised their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Cantor Fitzgerald restated 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 reiterated a “buy” rating and issued a $74.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Trading Down 1.0 %

Shares of SLNO opened at $49.15 on Monday. The company’s 50-day moving average price is $53.69 and its 200 day moving average price is $48.84. Soleno Therapeutics, Inc. has a 12-month low of $33.89 and a 12-month high of $60.92. The firm has a market cap of $2.12 billion, a P/E ratio of -14.80 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now owns 719,553 shares in the company, valued at approximately $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the sale, the chief financial officer now directly owns 119,172 shares in the company, valued at approximately $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,818 shares of company stock worth $1,622,194 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

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.