Northern Trust Corp Purchases 34,309 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Northern Trust Corp increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 17.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 226,889 shares of the company's stock after purchasing an additional 34,309 shares during the quarter. Northern Trust Corp owned approximately 0.53% of Soleno Therapeutics worth $10,199,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its position in shares of Soleno Therapeutics by 9.2% during the 4th quarter. Legal & General Group Plc now owns 23,471 shares of the company's stock worth $1,055,000 after purchasing an additional 1,983 shares in the last quarter. Barclays PLC increased its position in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company's stock worth $2,652,000 after purchasing an additional 31,467 shares in the last quarter. Emerald Advisers LLC increased its position in shares of Soleno Therapeutics by 85.4% during the 4th quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock worth $26,112,000 after purchasing an additional 267,585 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Soleno Therapeutics by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock worth $9,779,000 after purchasing an additional 24,953 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Soleno Therapeutics by 47.0% during the 4th quarter. Sei Investments Co. now owns 16,444 shares of the company's stock worth $739,000 after purchasing an additional 5,258 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Insider Activity

In related news, CFO James H. Mackaness sold 90,622 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now owns 105,176 shares of the company's stock, valued at $7,303,421.44. This trade represents a 46.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at $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 quarter, insiders have sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $100.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Guggenheim increased their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Piper Sandler increased their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $106.78.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO traded up $3.00 during mid-day trading on Friday, hitting $76.89. The company's stock had a trading volume of 474,984 shares, compared to its average volume of 747,294. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of -23.16 and a beta of -2.67. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $80.99. The company's fifty day simple moving average is $68.88 and its 200-day simple moving average is $55.72.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.19. On average, sell-side analysts predict 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.