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% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,106 shares of the company's stock after purchasing an additional 7,223 shares during the period. Ameriprise Financial Inc. owned approximately 0.08% of Soleno Therapeutics worth $1,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SLNO. Ally Bridge Group NY LLC acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth about $3,939,000. Comerica Bank boosted its stake in Soleno Therapeutics by 242.5% during the fourth quarter. Comerica Bank now owns 121,213 shares of the company's stock worth $5,449,000 after buying an additional 85,823 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in Soleno Therapeutics by 58.2% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 368,574 shares of the company's stock worth $16,567,000 after buying an additional 135,566 shares during the period. Nantahala Capital Management LLC increased its position in shares of Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after acquiring an additional 658,518 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Soleno Therapeutics by 17.8% in the 4th quarter. Northern Trust Corp now owns 226,889 shares of the company's stock valued at $10,199,000 after acquiring an additional 34,309 shares during the period. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the sale, the chief executive officer now owns 577,076 shares in the company, valued at $39,021,879.12. This represents a 54.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 over the last quarter. 12.30% of the stock is owned by insiders.

Soleno Therapeutics Trading Down 0.5%

NASDAQ:SLNO traded down $0.35 during mid-day trading on Wednesday, hitting $77.04. The stock had a trading volume of 435,595 shares, compared to its average volume of 757,516. Soleno Therapeutics, Inc. has a twelve month low of $36.93 and a twelve month high of $80.99. The stock has a 50-day simple moving average of $72.24 and a two-hundred day simple moving average of $56.67. The company has a market capitalization of $3.88 billion, a PE ratio of -23.20 and a beta of -2.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. Sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Cantor Fitzgerald increased their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Piper Sandler lifted their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Robert W. Baird raised their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Eight research 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.com, the stock has an average rating of "Buy" and a consensus price target of $106.78.

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.