Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 19.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,360 shares of the company’s stock after buying an additional 720 shares during the period. PNC Financial Services Group Inc.’s holdings in Soleno Therapeutics were worth $312,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Moody Aldrich Partners LLC boosted its stake in shares of Soleno Therapeutics by 0.7% during the first quarter. Moody Aldrich Partners LLC now owns 29,810 shares of the company’s stock worth $2,130,000 after buying an additional 196 shares during the period. Avanza Fonder AB boosted its stake in shares of Soleno Therapeutics by 14.8% during the first quarter. Avanza Fonder AB now owns 1,951 shares of the company’s stock worth $144,000 after buying an additional 251 shares during the period. SG Americas Securities LLC boosted its stake in shares of Soleno Therapeutics by 8.6% during the first quarter. SG Americas Securities LLC now owns 4,397 shares of the company’s stock worth $314,000 after buying an additional 350 shares during the period. Summit Investment Advisors Inc. raised its holdings in Soleno Therapeutics by 24.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock worth $120,000 after purchasing an additional 522 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Soleno Therapeutics by 9.2% during the first quarter. Arizona State Retirement System now owns 7,380 shares of the company’s stock worth $527,000 after purchasing an additional 620 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several analyst reports. Guggenheim increased their price target on shares of Soleno Therapeutics from $97.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. TD Cowen initiated coverage on shares of Soleno Therapeutics in a report on Monday, June 23rd. They set a “buy” rating and a $110.00 price target for the company. Oppenheimer increased their price target on shares of Soleno Therapeutics from $105.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Robert W. Baird set a $121.00 target price on shares of Soleno Therapeutics and gave the company an “outperform” rating in a report on Friday, July 11th. Finally, Wall Street Zen raised shares of Soleno Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and a consensus price target of $113.30.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $71.63 on Friday. The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of -17.30 and a beta of -2.56. The firm’s fifty day simple moving average is $83.03 and its 200 day simple moving average is $69.17. Soleno Therapeutics, Inc. has a twelve month low of $41.50 and a twelve month high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.44. The business had revenue of $32.66 million for the quarter, compared to analyst estimates of $3.91 million. As a group, equities research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Patricia C. Hirano sold 3,830 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total value of $316,970.80. Following the sale, the insider owned 13,206 shares in the company, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.

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.