Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 21.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,081,099 shares of the company's stock after buying an additional 722,226 shares during the period. Janus Henderson Group PLC owned about 9.46% of Soleno Therapeutics worth $206,016,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Soleno Therapeutics in the 2nd quarter worth approximately $31,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $155,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $202,000. Intech Investment Management LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $262,000. Finally, Fred Alger Management LLC acquired a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $310,000. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLNO has been the subject of several research reports. 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. Stifel Nicolaus reiterated a "buy" rating and set a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday. Robert W. Baird reiterated an "outperform" rating and set a $72.00 target price on shares of Soleno Therapeutics in a research note on Monday. HC Wainwright reissued a "buy" rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday. Finally, Oppenheimer boosted their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday, October 28th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics has an average rating of "Buy" and an average target price of $74.83.

Soleno Therapeutics Price Performance

Shares of NASDAQ:SLNO traded down $0.49 on Wednesday, reaching $50.67. The company's stock had a trading volume of 602,376 shares, compared to its average volume of 484,096. The stock's 50-day moving average is $53.67 and its two-hundred day moving average is $48.75. Soleno Therapeutics, Inc. has a 52-week low of $27.27 and a 52-week high of $60.92. The stock has a market capitalization of $2.18 billion, a P/E ratio of -15.26 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($1.22). Equities analysts forecast that Soleno Therapeutics, Inc. will post -3.76 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO James H. Mackaness sold 8,077 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now directly owns 119,172 shares of the company's stock, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bhatnagar Anish sold 21,633 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 719,553 shares of the company's stock, valued at approximately $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,818 shares of company stock valued at $1,622,194. Company insiders own 12.30% of the company's stock.

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.