Northern Trust Corp boosted its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 17.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,889 shares of the company's stock after purchasing an additional 34,309 shares during the period. Northern Trust Corp owned about 0.53% of Soleno Therapeutics worth $10,199,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC raised its position in shares of Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE bought a new stake in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics in the fourth quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics in the fourth quarter valued at $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics during the 4th quarter valued at $89,000. Hedge funds and other institutional investors own 97.42% of the company's stock.
Insider Activity
In related news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated 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 sale, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. This trade represents a 54.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James H. Mackaness sold 90,622 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the completion of the transaction, the chief financial officer now owns 105,176 shares of the company's stock, valued at approximately $7,303,421.44. This trade represents a 46.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 942,672 shares of company stock valued at $64,058,781. 12.30% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Guggenheim lifted their price target on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Piper Sandler boosted their price objective on Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Robert W. Baird upped their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Stifel Nicolaus increased their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $106.78.
Check Out Our Latest Research Report on Soleno Therapeutics
Soleno Therapeutics Stock Down 2.3%
SLNO stock traded down $1.75 during midday trading on Wednesday, reaching $73.30. The company had a trading volume of 514,263 shares, compared to its average volume of 744,954. The firm has a market capitalization of $3.69 billion, a PE ratio of -22.08 and a beta of -2.67. The stock has a 50 day moving average price of $67.38 and a 200 day moving average price of $55.33. Soleno Therapeutics, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $80.99.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. Research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.
About Soleno Therapeutics
(
Free Report)
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.
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