Toronto Dominion Bank Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Toronto Dominion Bank bought a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 25,923 shares of the company’s stock, valued at approximately $1,165,000.

Several other large investors have also recently modified their holdings of the stock. Rafferty Asset Management LLC increased its position in shares of Soleno Therapeutics by 17.4% during the 4th quarter. Rafferty Asset Management LLC now owns 66,480 shares of the company’s stock valued at $2,988,000 after purchasing an additional 9,847 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in shares of Soleno Therapeutics by 296.8% during the 4th quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after purchasing an additional 93,800 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Soleno Therapeutics by 64.9% during the 4th quarter. ProShare Advisors LLC now owns 7,206 shares of the company’s stock valued at $324,000 after purchasing an additional 2,836 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Soleno Therapeutics by 6.1% during the 4th quarter. Nuveen Asset Management LLC now owns 63,105 shares of the company’s stock valued at $2,837,000 after purchasing an additional 3,627 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Soleno Therapeutics by 15.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,171 shares of the company’s stock valued at $773,000 after purchasing an additional 2,278 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Guggenheim boosted their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Robert W. Baird upped their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Cantor Fitzgerald upped their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research report on Thursday, March 27th. Finally, Laidlaw upped their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $106.78.

Soleno Therapeutics Trading Up 4.1%

Shares of SLNO stock opened at $76.89 on Friday. Soleno Therapeutics, Inc. has a twelve month low of $36.93 and a twelve month high of $80.99. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -23.16 and a beta of -2.67. The stock has a fifty day simple moving average of $68.88 and a two-hundred day simple moving average of $55.72.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.19. Research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal 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.