Janus Henderson Group PLC Boosts Stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Janus Henderson Group PLC increased its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 13.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,870,811 shares of the company’s stock after purchasing an additional 346,914 shares during the quarter. Janus Henderson Group PLC owned approximately 0.09% of Soleno Therapeutics worth $122,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Swiss National Bank bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $918,000. Wellington Management Group LLP bought a new position in Soleno Therapeutics during the 4th quarter valued at approximately $8,557,000. Vivo Capital LLC raised its stake in Soleno Therapeutics by 162.8% during the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after buying an additional 5,215,000 shares during the last quarter. Carlyle Group Inc. boosted its holdings in Soleno Therapeutics by 24.6% in the fourth quarter. Carlyle Group Inc. now owns 2,857,804 shares of the company’s stock worth $115,039,000 after acquiring an additional 564,242 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth $2,088,000. 97.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Soleno Therapeutics

In other news, insider Kristen Yen sold 2,170 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $90,141.80. Following the transaction, the insider now owns 21,252 shares in the company, valued at approximately $882,808.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kristen Yen sold 2,170 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now directly owns 21,252 shares in the company, valued at approximately $882,808.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James H. Mackaness sold 7,190 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $298,672.60. Following the completion of the transaction, the chief financial officer now directly owns 55,763 shares in the company, valued at $2,316,395.02. The disclosure for this sale can be found here. Insiders sold a total of 28,616 shares of company stock worth $1,188,709 in the last three months. 12.30% of the stock is currently owned by company insiders.

Soleno Therapeutics Stock Performance

Shares of SLNO stock traded up $2.01 during trading hours on Wednesday, reaching $48.67. The company had a trading volume of 70,019 shares, compared to its average volume of 396,458. The business has a fifty day moving average price of $43.84 and a 200-day moving average price of $44.30. Soleno Therapeutics, Inc. has a one year low of $3.69 and a one year high of $53.82. The firm has a market cap of $1.63 billion, a PE ratio of -17.70 and a beta of -1.40.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results on Thursday, May 9th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). Equities research analysts forecast that Soleno Therapeutics, Inc. will post -2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several recent analyst reports. Baird R W raised Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Oppenheimer decreased their target price on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Finally, Robert W. Baird began coverage on shares of Soleno Therapeutics in a report on Friday, May 10th. They set an “outperform” rating and a $72.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $60.33.

Soleno Therapeutics 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.