Swiss National Bank Buys 4,200 Shares of Soleno Therapeutics, Inc. $SLNO

Key Points

• The Swiss National Bank increased its holdings in Soleno Therapeutics by 9.2%, now owning 50,100 shares worth approximately $3.58 million.
• In its latest earnings report, Soleno Therapeutics reported earnings per share of ($0.09), significantly beating analysts' expectations of ($0.53).
• Research firms like Oppenheimer and Guggenheim have raised their price targets for Soleno Therapeutics, indicating strong investor confidence with a consensus rating of "Buy."

Swiss National Bank increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,100 shares of the company's stock after purchasing an additional 4,200 shares during the quarter. Swiss National Bank owned approximately 0.10% of Soleno Therapeutics worth $3,580,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in Soleno Therapeutics by 40.4% in the fourth quarter. Wells Fargo & Company MN now owns 12,547 shares of the company's stock valued at $564,000 after acquiring an additional 3,610 shares during the last quarter. Legal & General Group Plc boosted its stake in 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 acquiring an additional 1,983 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after buying an additional 522 shares in the last quarter. Barclays PLC lifted its stake in Soleno Therapeutics by 141.1% in the fourth quarter. Barclays PLC now owns 126,675 shares of the company's stock valued at $5,694,000 after buying an additional 74,130 shares in the last quarter. Finally, Mariner LLC bought a new position in Soleno Therapeutics in the fourth quarter valued at approximately $418,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Insiders Place Their Bets

In related news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares of the company's stock, valued at $1,092,928.56. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

Soleno Therapeutics Trading Down 1.8%

SLNO stock traded down $1.23 during midday trading on Friday, reaching $68.57. 1,150,393 shares of the company were exchanged, compared to its average volume of 1,650,533. Soleno Therapeutics, Inc. has a one year low of $41.50 and a one year high of $90.32. The business has a 50-day moving average price of $81.95 and a two-hundred day moving average price of $69.95. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.44. The firm had revenue of $32.66 million for the quarter, compared to the consensus estimate of $3.91 million. Research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Oppenheimer boosted their price objective on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Wells Fargo & Company assumed coverage on shares of Soleno Therapeutics in a research report on Wednesday. They issued an "overweight" rating and a $123.00 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $110.00 price objective (up previously from $100.00) on shares of Soleno Therapeutics in a research report on Monday, August 18th. Robert W. Baird set a $121.00 price objective on shares of Soleno Therapeutics and gave the stock an "outperform" rating in a research report on Friday, July 11th. Finally, TD Cowen started coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $115.09.

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.