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

Janus Henderson Group PLC lifted its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,081,099 shares of the company’s stock after buying an additional 722,226 shares during the quarter. Janus Henderson Group PLC owned about 0.09% of Soleno Therapeutics worth $206,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SLNO. Amalgamated Bank acquired a new stake in Soleno Therapeutics during the 2nd quarter worth about $31,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Soleno Therapeutics during the 3rd quarter valued at about $155,000. Curi RMB Capital LLC acquired a new stake in Soleno Therapeutics during the third quarter worth approximately $202,000. Intech Investment Management LLC bought a new stake in Soleno Therapeutics in the third quarter worth approximately $262,000. Finally, Fred Alger Management LLC acquired a new position in Soleno Therapeutics in the third quarter valued at approximately $310,000. Institutional investors own 97.42% of the company’s stock.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction dated 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 approximately $35,567,504.79. The trade was a 2.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the chief financial officer now directly owns 119,172 shares of the company’s stock, valued at $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 worth $1,622,194 in the last quarter. 12.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on SLNO. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research note on Friday, September 20th. Oppenheimer increased 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a report on Monday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $74.83.

Soleno Therapeutics Stock Performance

SLNO stock opened at $51.16 on Wednesday. The business has a 50-day simple moving average of $53.63 and a two-hundred day simple moving average of $48.73. The company has a market capitalization of $2.21 billion, a P/E ratio of -15.41 and a beta of -1.47. Soleno Therapeutics, Inc. has a 52-week low of $27.27 and a 52-week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its 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). As a group, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.76 earnings per share for the current fiscal year.

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.