Comerica Bank Grows Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Comerica Bank raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 242.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,213 shares of the company's stock after buying an additional 85,823 shares during the period. Comerica Bank owned about 0.28% of Soleno Therapeutics worth $5,449,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. AlphaQuest LLC increased its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $34,000. Avanza Fonder AB acquired a new position in Soleno Therapeutics in the 4th quarter valued at $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics in the 4th quarter valued at $81,000. Finally, Avior Wealth Management LLC purchased a new position in Soleno Therapeutics in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 97.42% of the company's stock.

Insider Transactions at Soleno Therapeutics

In related news, CFO James H. Mackaness sold 90,622 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 105,176 shares in the company, valued at $7,303,421.44. This trade represents a 46.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 577,076 shares of the company's stock, valued at $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 942,672 shares of company stock valued at $64,058,781. Insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SLNO shares. Guggenheim increased their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a report on Thursday. Robert W. Baird upped their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a report on Thursday. Laidlaw lifted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Cantor Fitzgerald upped their price objective 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, UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research note on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $106.78.

Soleno Therapeutics Trading Up 0.7 %

SLNO traded up $0.51 during mid-day trading on Friday, hitting $76.77. 937,991 shares of the stock were exchanged, compared to its average volume of 737,387. The company has a market cap of $3.83 billion, a PE ratio of -23.12 and a beta of -2.67. The firm's fifty day moving average is $62.61 and its two-hundred day moving average is $54.19. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results 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. As a group, research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share 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.