Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Bought by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 174.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,534 shares of the company’s stock after purchasing an additional 36,534 shares during the period. TD Asset Management Inc’s holdings in Soleno Therapeutics were worth $2,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carlyle Group Inc. boosted its holdings in Soleno Therapeutics by 42.5% in the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after purchasing an additional 1,213,758 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Soleno Therapeutics by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after acquiring an additional 346,914 shares during the last quarter. Avoro Capital Advisors LLC raised its holdings in Soleno Therapeutics by 107.0% in the 1st quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock valued at $69,550,000 after acquiring an additional 840,000 shares during the last quarter. Vestal Point Capital LP acquired a new position in Soleno Therapeutics in the 4th quarter valued at $52,325,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Soleno Therapeutics during the 2nd quarter worth $29,778,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Activity

In other news, CEO Bhatnagar Anish sold 19,256 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $799,894.24. Following the completion of the transaction, the chief executive officer now owns 133,534 shares of the company’s stock, valued at $5,547,002.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO James H. Mackaness sold 6,661 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total value of $316,930.38. Following the completion of the transaction, the chief financial officer now owns 134,119 shares of the company’s stock, valued at $6,381,382.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 19,256 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $799,894.24. Following the completion of the transaction, the chief executive officer now directly owns 133,534 shares of the company’s stock, valued at approximately $5,547,002.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 767,239 shares of company stock valued at $36,744,548. Insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock opened at $49.61 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -18.51 and a beta of -1.46. Soleno Therapeutics, Inc. has a fifty-two week low of $3.91 and a fifty-two week high of $53.82. The firm has a fifty day moving average price of $47.60 and a two-hundred day moving average price of $44.63.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. As a group, sell-side analysts expect that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current year.

Analysts Set New Price Targets

SLNO has been the subject of a number of research reports. HC Wainwright started coverage on shares of Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price target for the company. Oppenheimer lifted their price target on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $67.14.

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.