Swiss National Bank Grows Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Swiss National Bank grew its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 27.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,900 shares of the company’s stock after purchasing an additional 9,900 shares during the quarter. Swiss National Bank owned approximately 0.11% of Soleno Therapeutics worth $2,063,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. AlphaQuest LLC lifted its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after buying an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $34,000. New York State Common Retirement Fund raised its stake in shares of Soleno Therapeutics by 13.2% during the fourth quarter. New York State Common Retirement Fund now owns 7,717 shares of the company’s stock valued at $347,000 after acquiring an additional 900 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Soleno Therapeutics by 3.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company’s stock valued at $1,676,000 after purchasing an additional 1,248 shares during the period. Finally, Arizona State Retirement System grew its stake in Soleno Therapeutics by 27.4% in the fourth quarter. Arizona State Retirement System now owns 6,760 shares of the company’s stock worth $304,000 after purchasing an additional 1,454 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Stifel Nicolaus initiated coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 price objective for the company. Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $91.17.

Insiders Place Their Bets

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

Soleno Therapeutics Price Performance

SLNO opened at $67.39 on Friday. The firm has a market capitalization of $3.09 billion, a PE ratio of -20.30 and a beta of -1.70. The business’s 50-day moving average is $48.44 and its two-hundred day moving average is $49.90. Soleno Therapeutics, Inc. has a 1 year low of $36.61 and a 1 year high of $72.96.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). As a group, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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.