Janus Henderson Group PLC Boosts Stock Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Janus Henderson Group PLC raised its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 27.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,188,265 shares of the company’s stock after purchasing an additional 1,107,166 shares during the quarter. Janus Henderson Group PLC owned 12.03% of Soleno Therapeutics worth $233,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Corebridge Financial Inc. grew its position in shares of Soleno Therapeutics by 2.9% during the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock valued at $572,000 after acquiring an additional 357 shares during the period. Summit Investment Advisors Inc. lifted its stake in Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after purchasing an additional 522 shares during the last quarter. AlphaQuest LLC grew its holdings in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE bought a new position in Soleno Therapeutics during the fourth quarter valued at $34,000. Finally, Alliancebernstein L.P. increased its position in Soleno Therapeutics by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock worth $1,070,000 after buying an additional 800 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Patricia C. Hirano sold 3,782 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now owns 27,036 shares in the company, valued at approximately $1,895,493.96. This trade represents a 12.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael F. Huang sold 14,583 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $69.51, for a total value of $1,013,664.33. Following the completion of the sale, the vice president now owns 36,817 shares in the company, valued at $2,559,149.67. This trade represents a 28.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 942,672 shares of company stock worth $64,058,781. Corporate insiders own 12.30% of the company’s stock.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $76.77 on Monday. The company has a market cap of $3.83 billion, a P/E ratio of -23.12 and a beta of -2.67. The stock’s fifty day moving average price is $63.25 and its two-hundred day moving average price is $54.37. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Guggenheim boosted their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Piper Sandler boosted their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $106.78.

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.