Wells Fargo & Company MN Grows Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Wells Fargo & Company MN raised its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 40.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,547 shares of the company's stock after acquiring an additional 3,610 shares during the period. Wells Fargo & Company MN's holdings in Soleno Therapeutics were worth $564,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SLNO. AlphaQuest LLC boosted its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE purchased a new position in shares of Soleno Therapeutics during the 4th quarter valued at approximately $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics in the 4th quarter valued at $76,000. Avior Wealth Management LLC purchased a new stake in Soleno Therapeutics in the 4th quarter worth $89,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Soleno Therapeutics in the 4th quarter worth $193,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the firm's stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $71.55, for a total value of $424,792.35. Following the completion of the transaction, the director now owns 6,500 shares of the company's stock, valued at $465,075. This trade represents a 47.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Patricia C. Hirano sold 3,782 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total transaction of $265,156.02. Following the completion of the transaction, the insider now owns 27,036 shares of the company's stock, valued at approximately $1,895,493.96. This trade represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock worth $64,058,781 over the last ninety days. Corporate insiders own 12.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLNO. Piper Sandler lifted their target price on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Guggenheim boosted their price target on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday. Stifel Nicolaus boosted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Finally, Robert W. Baird boosted their price target on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research report on Thursday. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $106.78.

Soleno Therapeutics Trading Up 7.3 %

NASDAQ SLNO traded up $5.46 during trading hours on Thursday, reaching $80.12. The company had a trading volume of 318,774 shares, compared to its average volume of 1,027,466. Soleno Therapeutics, Inc. has a 1-year low of $36.93 and a 1-year high of $80.26. The stock has a market capitalization of $4.00 billion, a P/E ratio of -24.13 and a beta of -2.67. The stock has a 50-day moving average of $61.99 and a 200 day moving average of $54.03.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Soleno Therapeutics 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.