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

Wellington Management Group LLP increased its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 73.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 683,170 shares of the company's stock after buying an additional 290,135 shares during the period. Wellington Management Group LLP owned 1.58% of Soleno Therapeutics worth $34,493,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the chief financial officer now directly owns 119,172 shares of the company's stock, valued at $5,890,671.96. The trade was a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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 Trading Down 0.5 %

NASDAQ:SLNO traded down $0.23 during mid-day trading on Friday, hitting $46.05. 207,307 shares of the company's stock were exchanged, compared to its average volume of 486,074. The business has a fifty day moving average price of $53.48 and a 200 day moving average price of $48.90. Soleno Therapeutics, Inc. has a one year low of $35.04 and a one year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($1.22). As a group, analysts forecast that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.