Wellington Management Group LLP Purchases 290,135 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Wellington Management Group LLP lifted its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 73.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,170 shares of the company’s stock after buying an additional 290,135 shares during the period. Wellington Management Group LLP owned about 1.58% of Soleno Therapeutics worth $34,493,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SLNO. State Street Corp grew its stake in Soleno Therapeutics by 14.2% in the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after acquiring an additional 142,033 shares during the period. Janus Henderson Group PLC grew its position in shares of Soleno Therapeutics by 21.5% in the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock valued at $206,016,000 after purchasing an additional 722,226 shares during the period. HighVista Strategies LLC bought a new stake in Soleno Therapeutics during the 3rd quarter worth approximately $560,000. Holocene Advisors LP raised its holdings in Soleno Therapeutics by 10.8% during the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after buying an additional 57,913 shares during the period. Finally, Checkpoint Capital L.P. lifted its stake in Soleno Therapeutics by 194.4% in the third quarter. Checkpoint Capital L.P. now owns 57,983 shares of the company’s stock valued at $2,928,000 after buying an additional 38,288 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Activity

In other news, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at approximately $35,567,504.79. The trade was a 2.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James H. Mackaness sold 8,077 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $399,246.11. Following the completion of the sale, the chief financial officer now owns 119,172 shares in the company, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock valued at $1,622,194 in the last quarter. Company insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

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

Soleno Therapeutics Stock Down 1.9 %

SLNO stock opened at $46.28 on Friday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -13.94 and a beta of -1.47. Soleno Therapeutics, Inc. has a twelve month low of $35.04 and a twelve month high of $60.92. The business has a 50 day moving average price of $53.48 and a two-hundred day moving average price of $48.90.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.

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.