Toronto Dominion Bank Invests $1.17 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Toronto Dominion Bank purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 25,923 shares of the company's stock, valued at approximately $1,165,000. Toronto Dominion Bank owned 0.06% of Soleno Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Rafferty Asset Management LLC boosted its stake in Soleno Therapeutics by 17.4% during the 4th quarter. Rafferty Asset Management LLC now owns 66,480 shares of the company's stock valued at $2,988,000 after purchasing an additional 9,847 shares during the period. Polar Asset Management Partners Inc. raised its holdings in shares of Soleno Therapeutics by 296.8% in the 4th quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company's stock worth $5,637,000 after purchasing an additional 93,800 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Soleno Therapeutics by 64.9% in the 4th quarter. ProShare Advisors LLC now owns 7,206 shares of the company's stock worth $324,000 after purchasing an additional 2,836 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Soleno Therapeutics by 6.1% in the 4th quarter. Nuveen Asset Management LLC now owns 63,105 shares of the company's stock valued at $2,837,000 after acquiring an additional 3,627 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Soleno Therapeutics by 15.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the company's stock valued at $773,000 after acquiring an additional 2,278 shares in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Soleno Therapeutics Trading Up 0.8%

SLNO stock traded up $0.60 during trading on Thursday, hitting $76.37. 80,451 shares of the stock traded hands, compared to its average volume of 746,858. Soleno Therapeutics, Inc. has a one year low of $36.93 and a one year high of $80.99. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of -23.00 and a beta of -2.67. The company has a 50 day simple moving average of $70.53 and a 200 day simple moving average of $56.12.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly 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. As a group, analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 128,653 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the transaction, the insider now owns 55,789 shares of the company's stock, valued at $3,811,504.48. This trade represents a 69.75% 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 shares were sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78% 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. 12.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several research analyst reports. UBS Group set a $105.00 price target on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Robert W. Baird upped their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Cantor Fitzgerald increased their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday, March 27th. Finally, Laidlaw increased their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Soleno Therapeutics has an average rating of "Buy" and an average target price of $106.78.

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.