Zurcher Kantonalbank Zurich Cantonalbank Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the third quarter, Holdings Channel.com reports. The fund bought 3,075 shares of the company’s stock, valued at approximately $155,000.

Other large investors have also recently bought and sold shares of the company. MetLife Investment Management LLC raised its holdings in Soleno Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 12,772 shares of the company’s stock valued at $645,000 after acquiring an additional 7,196 shares in the last quarter. FMR LLC raised its stake in shares of Soleno Therapeutics by 6,048,754.5% in the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after purchasing an additional 665,363 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Soleno Therapeutics by 6.5% in the third quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company’s stock worth $2,657,000 after purchasing an additional 3,226 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Soleno Therapeutics during the third quarter worth $25,028,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Soleno Therapeutics by 208.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 192,597 shares of the company’s stock valued at $9,724,000 after buying an additional 130,080 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SLNO shares. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a report on Friday, September 20th. HC Wainwright reissued a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer boosted their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $47.92 on Tuesday. The stock’s 50 day simple moving average is $53.63 and its 200 day simple moving average is $48.89. Soleno Therapeutics, Inc. has a one year low of $34.82 and a one year high of $60.92. The firm has a market cap of $2.07 billion, a PE ratio of -14.43 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, equities analysts expect that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Bhatnagar Anish sold 21,633 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the completion of the sale, the chief executive officer now owns 719,553 shares in the company, valued at $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James H. Mackaness sold 8,077 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the transaction, the chief financial officer now owns 119,172 shares in the company, valued at approximately $5,890,671.96. This represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,818 shares of company stock valued at $1,622,194. Insiders own 12.30% of the company’s stock.

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.