State Street Corp Purchases 142,033 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

State Street Corp raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNOFree Report) by 14.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,142,169 shares of the company’s stock after buying an additional 142,033 shares during the quarter. State Street Corp’s holdings in Soleno Therapeutics were worth $57,668,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SLNO. Amalgamated Bank acquired a new stake in shares of Soleno Therapeutics in the second quarter valued at approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at $155,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at $202,000. Intech Investment Management LLC bought a new stake in Soleno Therapeutics during the 3rd quarter worth about $262,000. Finally, Fred Alger Management LLC acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth about $310,000. Institutional investors own 97.42% of the company’s stock.

Insider Buying and Selling at Soleno Therapeutics

In related news, 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 transaction of $399,246.11. Following the transaction, the chief financial officer now directly owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction dated 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 of the company’s stock, valued at $35,567,504.79. This trade represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,818 shares of company stock valued at $1,622,194 in the last three months. 12.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on Soleno Therapeutics

Soleno Therapeutics Trading Down 5.0 %

SLNO opened at $45.27 on Thursday. The stock’s fifty day simple moving average is $53.23 and its 200 day simple moving average is $49.09. Soleno Therapeutics, Inc. has a 1-year low of $35.70 and a 1-year high of $60.92. The stock has a market cap of $1.95 billion, a PE ratio of -13.64 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNOGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities analysts forecast that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current year.

Soleno Therapeutics Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Soleno Therapeutics (NASDAQ:SLNO)

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