California State Teachers Retirement System Has $988,000 Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

California State Teachers Retirement System lifted its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,977 shares of the company's stock after purchasing an additional 4,201 shares during the period. California State Teachers Retirement System's holdings in Soleno Therapeutics were worth $988,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Corebridge Financial Inc. lifted its holdings in Soleno Therapeutics by 2.9% during the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock worth $572,000 after buying an additional 357 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Soleno Therapeutics by 24.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after acquiring an additional 522 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the fourth quarter valued at $34,000. Finally, Alliancebernstein L.P. boosted its holdings in Soleno Therapeutics by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company's stock valued at $1,070,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 97.42% of the company's stock.

Soleno Therapeutics Stock Up 0.1%

Soleno Therapeutics stock traded up $0.10 during midday trading on Thursday, hitting $79.25. 70,844 shares of the stock were exchanged, compared to its average volume of 762,000. The stock has a market capitalization of $3.99 billion, a PE ratio of -23.87 and a beta of -2.69. The company has a fifty day simple moving average of $73.03 and a two-hundred day simple moving average of $57.61. Soleno Therapeutics, Inc. has a 52 week low of $36.93 and a 52 week high of $80.99.

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

Wall Street Analysts Forecast Growth

SLNO has been the subject of several recent research reports. UBS Group set a $105.00 price objective on Soleno Therapeutics in a report on Thursday, March 27th. Guggenheim lifted their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. HC Wainwright reissued a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Robert W. Baird increased their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, Laidlaw raised their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Eight equities research 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 has a consensus rating of "Buy" and a consensus target price of $106.78.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. The trade was a 54.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patricia C. Hirano sold 3,782 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now directly owns 27,036 shares in the company, valued at approximately $1,895,493.96. This represents a 12.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 in the last quarter. Corporate insiders own 6.40% of the company's stock.

About Soleno Therapeutics

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.