Wellington Management Group LLP Has $34.49 Million Holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Wellington Management Group LLP increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 73.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 683,170 shares of the company’s stock after purchasing an additional 290,135 shares during the quarter. Wellington Management Group LLP’s holdings in Soleno Therapeutics were worth $34,493,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Soleno Therapeutics by 14.2% during the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after acquiring an additional 142,033 shares during the period. Janus Henderson Group PLC raised its position in Soleno Therapeutics by 21.5% during 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 in the last quarter. HighVista Strategies LLC acquired a new position in Soleno Therapeutics during the third quarter valued at approximately $560,000. Holocene Advisors LP boosted its holdings in shares of Soleno Therapeutics by 10.8% in the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock valued at $30,009,000 after purchasing an additional 57,913 shares in the last quarter. Finally, Checkpoint Capital L.P. boosted its holdings in shares of Soleno Therapeutics by 194.4% in the 3rd quarter. Checkpoint Capital L.P. now owns 57,983 shares of the company’s stock valued at $2,928,000 after purchasing an additional 38,288 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO James H. Mackaness sold 8,077 shares of the business’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 value of $399,246.11. Following the transaction, the chief financial officer now owns 119,172 shares in the company, valued at approximately $5,890,671.96. The trade was a 6.35 % decrease in their position. The sale 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 stock in a transaction on Tuesday, October 1st. The stock was 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 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 three months, insiders have sold 32,818 shares of company stock valued at $1,622,194. 12.30% of the stock is currently owned by company insiders.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $46.28 on Friday. Soleno Therapeutics, Inc. has a one year low of $35.04 and a one year high of $60.92. The company has a market cap of $2.00 billion, a PE ratio of -13.94 and a beta of -1.47. The firm’s 50 day simple moving average is $53.48 and its 200 day simple moving average is $48.90.

Soleno Therapeutics (NASDAQ:SLNO) last released 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). Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.7 EPS for the current year.

Analyst Ratings Changes

SLNO has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Stifel Nicolaus reissued a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Oppenheimer boosted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average price target 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.