Swiss National Bank Boosts Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Swiss National Bank lifted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 27.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,900 shares of the company’s stock after purchasing an additional 9,900 shares during the quarter. Swiss National Bank’s holdings in Soleno Therapeutics were worth $2,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaQuest LLC increased its holdings in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after buying an additional 658 shares during the period. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Avanza Fonder AB acquired a new stake in shares of Soleno Therapeutics in the fourth quarter worth $76,000. Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics during the fourth quarter worth $89,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Soleno Therapeutics during the third quarter valued at $155,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

Shares of SLNO stock opened at $67.39 on Friday. The stock has a 50 day simple moving average of $48.44 and a 200-day simple moving average of $49.90. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $72.96. The company has a market cap of $3.09 billion, a price-to-earnings ratio of -20.30 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now owns 115,089 shares in the company, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cantor Fitzgerald increased their price target on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Laidlaw boosted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a report on Thursday. Lifesci Capital raised shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus started coverage on shares of Soleno Therapeutics in a research note on Wednesday, March 5th. They issued a “buy” rating and a $74.00 target price for the company. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $91.17.

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.