Barclays PLC Acquires 31,467 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Barclays PLC grew its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 149.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,545 shares of the company's stock after acquiring an additional 31,467 shares during the quarter. Barclays PLC owned 0.12% of Soleno Therapeutics worth $2,652,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Amalgamated Bank purchased a new position in Soleno Therapeutics in the 2nd quarter worth $31,000. Victory Capital Management Inc. grew its stake in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock valued at $438,000 after buying an additional 2,236 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Soleno Therapeutics in the third quarter worth about $155,000. The Manufacturers Life Insurance Company lifted its stake in shares of Soleno Therapeutics by 6.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 52,634 shares of the company's stock valued at $2,657,000 after acquiring an additional 3,226 shares during the last quarter. Finally, Curi RMB Capital LLC purchased a new stake in Soleno Therapeutics during the 3rd quarter valued at about $202,000. 97.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO James H. Mackaness sold 8,077 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 119,172 shares in the company, valued at $5,890,671.96. This trade represents a 6.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction dated 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 transaction, the chief executive officer now directly owns 719,553 shares of the company's stock, valued at approximately $35,567,504.79. This trade represents a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,818 shares of company stock worth $1,622,194. Company insiders own 12.30% of the company's stock.

Soleno Therapeutics Price Performance

Soleno Therapeutics stock traded down $0.18 during mid-day trading on Wednesday, reaching $44.77. 223,890 shares of the company traded hands, compared to its average volume of 493,354. Soleno Therapeutics, Inc. has a 52-week low of $35.70 and a 52-week high of $60.92. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -13.48 and a beta of -1.47. The firm's 50 day moving average price is $52.56 and its 200 day moving average price is $49.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLNO. Stifel Nicolaus reaffirmed a "buy" rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Oppenheimer raised their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Finally, Robert W. Baird reaffirmed an "outperform" rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $74.83.

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.