State Street Corp Has $57.67 Million Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

State Street Corp boosted its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 14.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142,169 shares of the company’s stock after purchasing an additional 142,033 shares during the period. State Street Corp owned 2.65% of Soleno Therapeutics worth $57,668,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SLNO. Amalgamated Bank bought a new stake in shares of Soleno Therapeutics during the second quarter worth $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Soleno Therapeutics during the 3rd quarter worth about $155,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at about $202,000. Intech Investment Management LLC bought a new position in shares of Soleno Therapeutics in the third quarter worth about $262,000. Finally, Fred Alger Management LLC acquired a new position in shares of Soleno Therapeutics during the third quarter worth approximately $310,000. Institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Robert W. Baird restated an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Oppenheimer raised their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $74.83.

Insider Transactions at Soleno Therapeutics

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

Soleno Therapeutics Trading Down 5.0 %

Shares of SLNO opened at $45.27 on Thursday. The stock has a market cap of $1.95 billion, a P/E ratio of -13.64 and a beta of -1.47. Soleno Therapeutics, Inc. has a 1 year low of $35.70 and a 1 year high of $60.92. The stock’s 50-day moving average price is $53.23 and its two-hundred day moving average price is $49.09.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.7 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.