Charles Schwab Investment Management Inc. Purchases 24,953 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Charles Schwab Investment Management Inc. lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 217,550 shares of the company’s stock after purchasing an additional 24,953 shares during the period. Charles Schwab Investment Management Inc. owned 0.50% of Soleno Therapeutics worth $9,779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SLNO. Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 21.5% during the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock worth $206,016,000 after purchasing an additional 722,226 shares during the period. FMR LLC increased its stake in shares of Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after purchasing an additional 665,363 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Soleno Therapeutics during the third quarter worth approximately $25,028,000. TimesSquare Capital Management LLC acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $15,273,000. Finally, Wellington Management Group LLP grew its position in Soleno Therapeutics by 73.8% during the third quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock worth $34,493,000 after buying an additional 290,135 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $49.11 on Friday. The stock’s fifty day moving average price is $47.71 and its two-hundred day moving average price is $49.77. The company has a market cap of $2.25 billion, a PE ratio of -14.79 and a beta of -1.70. Soleno Therapeutics, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last issued its 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, equities analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SLNO has been the topic of a number of analyst reports. Robert W. Baird reissued an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus initiated coverage on Soleno Therapeutics in a research report on Wednesday, March 5th. They set a “buy” rating and a $74.00 price target on the stock. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $71.20.

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.