Teachers Retirement System of The State of Kentucky Buys Shares of 13,001 Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Teachers Retirement System of The State of Kentucky acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,001 shares of the company's stock, valued at approximately $656,000.

A number of other large investors have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in Soleno Therapeutics by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company's stock valued at $206,016,000 after acquiring an additional 722,226 shares in the last quarter. Nantahala Capital Management LLC increased its stake in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company's stock valued at $125,750,000 after buying an additional 671,728 shares during the period. FMR LLC raised its position in shares of Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company's stock worth $33,595,000 after buying an additional 665,363 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Soleno Therapeutics in the 3rd quarter worth approximately $25,028,000. Finally, Avoro Capital Advisors LLC increased its stake in shares of Soleno Therapeutics by 28.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company's stock valued at $85,340,000 after acquiring an additional 466,666 shares during the period. Institutional investors own 97.42% of the company's stock.

Wall Street Analysts Forecast Growth

SLNO has been the subject of a number of research analyst reports. Robert W. Baird restated an "outperform" rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Oppenheimer lifted their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Stifel Nicolaus restated a "buy" rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $74.83.

Insiders Place Their Bets

In related news, CEO Bhatnagar Anish sold 21,633 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the completion of the sale, the chief executive officer now directly owns 719,553 shares in the company, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristen Yen sold 3,108 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,818 shares of company stock worth $1,622,194. Corporate insiders own 12.30% of the company's stock.

Soleno Therapeutics Stock Performance

SLNO traded down $0.07 during trading on Thursday, reaching $45.20. The company had a trading volume of 604,437 shares, compared to its average volume of 491,288. The firm's 50-day simple moving average is $53.23 and its 200 day simple moving average is $49.09. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -13.61 and a beta of -1.47. Soleno Therapeutics, Inc. has a 12-month low of $35.70 and a 12-month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.7 EPS for the current 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.