Teachers Retirement System of The State of Kentucky purchased a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund purchased 13,001 shares of the company's stock, valued at approximately $656,000.
Several other hedge funds have also bought and sold shares of SLNO. Geode Capital Management LLC grew its position in shares of Soleno Therapeutics by 10.5% during the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company's stock valued at $27,286,000 after purchasing an additional 51,189 shares in the last quarter. Barclays PLC boosted its stake in Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company's stock valued at $2,652,000 after buying an additional 31,467 shares during the last quarter. Wellington Management Group LLP grew its holdings in Soleno Therapeutics by 73.8% during the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company's stock valued at $34,493,000 after buying an additional 290,135 shares in the last quarter. State Street Corp increased its stake in Soleno Therapeutics by 14.2% in 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 last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Soleno Therapeutics by 21.5% during the 3rd quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company's stock worth $206,016,000 after acquiring an additional 722,226 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.
Shares of NASDAQ:SLNO opened at $45.27 on Thursday. The firm has a market capitalization of $1.95 billion, a PE ratio of -13.64 and a beta of -1.47. The business has a 50 day simple moving average of $53.23 and a two-hundred day simple moving average of $49.09. Soleno Therapeutics, Inc. has a 1 year low of $35.70 and a 1 year high of $60.92.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($1.22). Equities research analysts expect that Soleno Therapeutics, Inc. will post -3.7 EPS for the current fiscal year.
Several brokerages recently weighed in on SLNO. Cantor Fitzgerald restated an "overweight" rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research report on Friday, September 20th. Stifel Nicolaus restated a "buy" rating and issued a $74.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer increased their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Robert W. Baird reissued an "outperform" rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $74.83.
Read Our Latest Stock Report on Soleno Therapeutics
In other news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the sale, the insider now owns 81,465 shares of the company's stock, valued at approximately $4,026,814.95. The trade was a 3.67 % decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 119,172 shares in the company, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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, 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.
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