Wellington Management Group LLP Buys New Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Wellington Management Group LLP purchased a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 212,606 shares of the company’s stock, valued at approximately $8,557,000.

Other hedge funds have also made changes to their positions in the company. Swiss National Bank purchased a new stake in Soleno Therapeutics during the 4th quarter worth approximately $918,000. Vivo Capital LLC increased its position in shares of Soleno Therapeutics by 162.8% during the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock worth $338,828,000 after acquiring an additional 5,215,000 shares during the period. Carlyle Group Inc. increased its position in shares of Soleno Therapeutics by 24.6% during the fourth quarter. Carlyle Group Inc. now owns 2,857,804 shares of the company’s stock worth $115,039,000 after acquiring an additional 564,242 shares during the period. Walleye Capital LLC acquired a new stake in shares of Soleno Therapeutics in the third quarter valued at $1,365,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Soleno Therapeutics during the 3rd quarter worth $685,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 5.5 %

Shares of NASDAQ:SLNO opened at $41.75 on Friday. The firm has a 50 day simple moving average of $43.14 and a 200-day simple moving average of $43.16. Soleno Therapeutics, Inc. has a twelve month low of $3.69 and a twelve month high of $53.82. The company has a market capitalization of $1.39 billion, a PE ratio of -15.58 and a beta of -1.40.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). As a group, equities research analysts predict that Soleno Therapeutics, Inc. will post -2.36 EPS for the current fiscal year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,218 shares of Soleno Therapeutics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $91,692.12. Following the transaction, the insider now owns 23,422 shares of the company’s stock, valued at $968,265.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the sale, the insider now owns 7,668,093 shares in the company, valued at approximately $366,534,845.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristen Yen sold 2,218 shares of Soleno Therapeutics stock in a transaction on Monday, April 1st. The shares were sold at an average price of $41.34, for a total transaction of $91,692.12. Following the completion of the transaction, the insider now owns 23,422 shares in the company, valued at $968,265.48. The disclosure for this sale can be found here. Insiders sold a total of 776,373 shares of company stock valued at $36,940,260 in the last three months. 12.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Baird R W upgraded Soleno Therapeutics to a “strong-buy” rating in a research note on Friday, May 10th. Robert W. Baird began coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They issued an “outperform” rating and a $72.00 price objective on the stock. Finally, Oppenheimer decreased their price objective on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and an average target price of $60.33.

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.