Barclays PLC Increases Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Barclays PLC increased its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 149.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,545 shares of the company’s stock after buying an additional 31,467 shares during the period. Barclays PLC owned about 0.12% of Soleno Therapeutics worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Soleno Therapeutics by 73.8% during the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock worth $34,493,000 after acquiring an additional 290,135 shares in the last quarter. State Street Corp boosted its position in Soleno Therapeutics by 14.2% during the third quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Soleno Therapeutics by 21.5% in the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock valued at $206,016,000 after purchasing an additional 722,226 shares during the last quarter. HighVista Strategies LLC purchased a new position in shares of Soleno Therapeutics in the third quarter valued at $560,000. Finally, Holocene Advisors LP raised its stake in shares of Soleno Therapeutics by 10.8% during the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after buying an additional 57,913 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the sale, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James H. Mackaness sold 8,077 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 $399,246.11. Following the completion of the transaction, the chief financial officer now owns 119,172 shares in the company, valued at $5,890,671.96. The trade was a 6.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,818 shares of company stock valued at $1,622,194 over the last quarter. Company insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

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

Soleno Therapeutics Trading Down 0.4 %

NASDAQ SLNO opened at $44.77 on Wednesday. The business’s 50-day moving average price is $52.75 and its 200 day moving average price is $49.17. Soleno Therapeutics, Inc. has a twelve month low of $35.70 and a twelve month high of $60.92. The company has a market capitalization of $1.93 billion, a PE ratio of -13.48 and a beta of -1.47.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data 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). Equities analysts predict that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

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.