Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 782,265 shares of the company's stock after acquiring an additional 99,095 shares during the period. Wellington Management Group LLP owned about 1.71% of Soleno Therapeutics worth $35,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Soleno Therapeutics by 23.6% in the fourth quarter. California State Teachers Retirement System now owns 21,977 shares of the company's stock valued at $988,000 after purchasing an additional 4,201 shares during the period. Polar Asset Management Partners Inc. lifted its stake in shares of Soleno Therapeutics by 296.8% in the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company's stock valued at $5,637,000 after purchasing an additional 93,800 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $13,451,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Soleno Therapeutics by 24.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company's stock valued at $1,236,000 after purchasing an additional 5,462 shares during the period. Finally, Union Square Park Capital Management LLC acquired a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $2,248,000. Hedge funds and other institutional investors own 97.42% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $100.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Robert W. Baird raised their price objective on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Laidlaw raised their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Lifesci Capital upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald lifted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research report on Thursday, March 27th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $106.78.

Soleno Therapeutics Price Performance

SLNO stock traded up $0.66 during midday trading on Wednesday, hitting $78.05. The stock had a trading volume of 153,736 shares, compared to its average volume of 754,834. The firm has a market cap of $3.93 billion, a PE ratio of -23.51 and a beta of -2.67. Soleno Therapeutics, Inc. has a 12-month low of $36.93 and a 12-month high of $80.99. The company's 50-day moving average price is $72.24 and its 200 day moving average price is $56.67.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.19. As a group, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patricia C. Hirano sold 128,653 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the transaction, the insider now owns 55,789 shares of the company's stock, valued at $3,811,504.48. This trade represents a 69.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 over the last ninety days. 12.30% of the stock is owned by company insiders.

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.