Janus Henderson Group PLC Has $206.02 Million Stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Janus Henderson Group PLC raised its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 21.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,081,099 shares of the company’s stock after purchasing an additional 722,226 shares during the period. Janus Henderson Group PLC owned approximately 9.46% of Soleno Therapeutics worth $206,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. HighVista Strategies LLC bought a new stake in shares of Soleno Therapeutics in the third quarter valued at approximately $560,000. Holocene Advisors LP raised its holdings in 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 acquiring an additional 57,913 shares in the last quarter. Checkpoint Capital L.P. raised its holdings in 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 acquiring an additional 38,288 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at $310,000. Finally, Martingale Asset Management L P acquired a new stake in shares of Soleno Therapeutics during the 3rd quarter worth $1,110,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Analyst Upgrades and Downgrades

SLNO has been the subject of several recent analyst reports. Oppenheimer upped their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday. Stifel Nicolaus restated a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a report on Monday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $74.83.

Soleno Therapeutics Price Performance

SLNO stock opened at $51.16 on Wednesday. Soleno Therapeutics, Inc. has a 1 year low of $27.27 and a 1 year high of $60.92. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -15.41 and a beta of -1.47. The company has a 50 day simple moving average of $53.63 and a 200 day simple moving average of $48.73.

Soleno Therapeutics (NASDAQ:SLNO) last announced 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). On average, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Bhatnagar Anish sold 21,633 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the sale, the chief executive officer now owns 719,553 shares of the company’s stock, valued at $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James H. Mackaness sold 8,077 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $399,246.11. Following the transaction, the chief financial officer now directly owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This represents a 6.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,818 shares of company stock valued at $1,622,194 in the last 90 days. Corporate insiders own 12.30% of the company’s stock.

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.