Northern Trust Corp Buys 34,309 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Northern Trust Corp raised its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 17.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,889 shares of the company’s stock after acquiring an additional 34,309 shares during the quarter. Northern Trust Corp owned about 0.53% of Soleno Therapeutics worth $10,199,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Artia Global Partners LP grew its holdings in Soleno Therapeutics by 80.2% in the fourth quarter. Artia Global Partners LP now owns 494,424 shares of the company’s stock worth $22,224,000 after purchasing an additional 220,000 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at about $1,313,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Soleno Therapeutics by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after acquiring an additional 321,223 shares in the last quarter. Avoro Capital Advisors LLC boosted its position in Soleno Therapeutics by 15.8% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after purchasing an additional 344,000 shares during the last quarter. Finally, Rock Springs Capital Management LP bought a new position in Soleno Therapeutics during the fourth quarter valued at about $5,578,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on SLNO shares. HC Wainwright reissued a “buy” rating and issued a $100.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Piper Sandler upped their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Robert W. Baird raised their price target on Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald lifted their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and a consensus target price of $106.78.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, Director Matthew Pauls sold 5,937 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the sale, the director now directly owns 6,500 shares in the company, valued at approximately $465,075. This trade represents a 47.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total value of $8,789,572.96. Following the sale, the insider now directly owns 55,789 shares in the company, valued at $3,811,504.48. This trade represents a 69.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock worth $64,058,781 over the last ninety days. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $75.01 on Friday. The business’s 50-day moving average is $66.28 and its 200 day moving average is $55.05. The stock has a market capitalization of $3.78 billion, a PE ratio of -22.59 and a beta of -2.67. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

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.