Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,106 shares of the company's stock after buying an additional 7,223 shares during the quarter. Ameriprise Financial Inc. owned 0.08% of Soleno Therapeutics worth $1,578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nantahala Capital Management LLC grew its holdings in Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after buying an additional 658,518 shares in the last quarter. Avoro Capital Advisors LLC grew its holdings in Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after buying an additional 344,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock valued at $84,710,000 after buying an additional 303,806 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock valued at $73,301,000 after buying an additional 321,223 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Soleno Therapeutics by 48.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 851,838 shares of the company's stock valued at $38,290,000 after buying an additional 276,225 shares in the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Trading Up 3.1%

SLNO traded up $2.31 during mid-day trading on Monday, hitting $75.66. 686,474 shares of the stock were exchanged, compared to its average volume of 755,345. The firm's fifty day moving average is $71.51 and its two-hundred day moving average is $56.36. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.99. The company has a market cap of $3.81 billion, a PE ratio of -22.79 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SLNO shares. Piper Sandler upped their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Cantor Fitzgerald upped their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Laidlaw increased their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Stifel Nicolaus increased their price target on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Robert W. Baird increased their price target on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $106.78.

Insider Buying and Selling

In related news, Director Matthew Pauls sold 5,937 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the transaction, the director now owns 6,500 shares of the company's stock, valued at approximately $465,075. This represents a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total value of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 942,672 shares of company stock valued at $64,058,781. 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.