Teacher Retirement System of Texas Grows Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Teacher Retirement System of Texas increased its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,931 shares of the company’s stock after buying an additional 2,309 shares during the period. Teacher Retirement System of Texas’ holdings in Soleno Therapeutics were worth $312,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its position in shares of Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE bought a new stake in Soleno Therapeutics in the fourth quarter valued at about $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics during the fourth quarter valued at approximately $76,000. Avior Wealth Management LLC bought a new position in Soleno Therapeutics during the 4th quarter worth approximately $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Soleno Therapeutics in the 3rd quarter worth approximately $155,000. 97.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLNO has been the topic of several research reports. Laidlaw upped their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Robert W. Baird increased their target price on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, March 27th. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Cantor Fitzgerald boosted their price objective on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, HC Wainwright raised their target price on shares of Soleno Therapeutics from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Buy” and an average price target of $98.86.

Insider Activity at Soleno Therapeutics

In other news, VP Michael F. Huang sold 14,583 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the transaction, the vice president now directly owns 36,817 shares of the company’s stock, valued at approximately $2,559,149.67. This trade represents a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the sale, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 956,250 shares of company stock worth $64,583,745 in the last three months. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Stock Down 4.5 %

Shares of NASDAQ:SLNO opened at $68.26 on Wednesday. The company’s 50-day moving average price is $49.82 and its 200 day moving average price is $50.34. The company has a market cap of $3.13 billion, a PE ratio of -20.56 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 $73.97.

Soleno Therapeutics (NASDAQ:SLNO) 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). As a group, equities analysts anticipate 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.