Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock Holdings Boosted by Comerica Bank

Comerica Bank lifted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 242.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 121,213 shares of the company’s stock after buying an additional 85,823 shares during the period. Comerica Bank’s holdings in Soleno Therapeutics were worth $5,449,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its position in Soleno Therapeutics by 9.2% in the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company’s stock worth $1,055,000 after acquiring an additional 1,983 shares in the last quarter. Barclays PLC raised its holdings in shares of Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after purchasing an additional 31,467 shares in the last quarter. Emerald Advisers LLC lifted its stake in Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company’s stock valued at $26,112,000 after purchasing an additional 267,585 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Soleno Therapeutics by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company’s stock worth $9,779,000 after buying an additional 24,953 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Soleno Therapeutics by 47.0% during the fourth quarter. Sei Investments Co. now owns 16,444 shares of the company’s stock worth $739,000 after buying an additional 5,258 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SLNO shares. Stifel Nicolaus increased their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Robert W. Baird increased their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, March 27th. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Laidlaw raised their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Finally, UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $104.67.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $75.23 on Monday. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of -22.66 and a beta of -2.67. The company has a 50 day simple moving average of $60.27 and a 200-day simple moving average of $53.60. Soleno Therapeutics, Inc. has a 52-week low of $36.93 and a 52-week high of $76.56.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insider Activity at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 699,095 shares of Soleno Therapeutics stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the completion of the sale, the chief executive officer now directly owns 577,076 shares in the company, valued at $39,021,879.12. The trade was a 54.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patricia C. Hirano sold 3,782 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now directly owns 27,036 shares of the company’s stock, valued at approximately $1,895,493.96. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 942,672 shares of company stock valued at $64,058,781. 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.