Allspring Global Investments Holdings LLC Sells 60,679 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Allspring Global Investments Holdings LLC lessened its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 47.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,349 shares of the company’s stock after selling 60,679 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Soleno Therapeutics were worth $4,812,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after acquiring an additional 1,107,166 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Soleno Therapeutics by 20.1% during the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after purchasing an additional 658,518 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Soleno Therapeutics in the first quarter valued at approximately $31,046,000. Avoro Capital Advisors LLC lifted its stake in shares of Soleno Therapeutics by 15.8% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after buying an additional 344,000 shares during the last quarter. Finally, Vestal Point Capital LP lifted its stake in shares of Soleno Therapeutics by 47.2% in the fourth quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after buying an additional 340,000 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. 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 report on Thursday, March 27th. Stifel Nicolaus lifted their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. HC Wainwright reissued a “buy” rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Cowen started coverage on Soleno Therapeutics in a report on Monday, June 23rd. They issued a “buy” rating on the stock. Finally, TD Cowen started coverage on Soleno Therapeutics in a research report on Monday, June 23rd. They issued a “buy” rating and a $110.00 price target on the stock. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $107.10.

Soleno Therapeutics Price Performance

SLNO opened at $86.64 on Friday. The company has a fifty day moving average price of $77.90 and a two-hundred day moving average price of $61.43. The firm has a market capitalization of $4.37 billion, a PE ratio of -18.75 and a beta of -2.63. Soleno Therapeutics, Inc. has a 52 week low of $40.67 and a 52 week high of $87.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data 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, analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In related news, insider Patricia C. Hirano sold 3,830 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total transaction of $316,970.80. Following the completion of the sale, the insider directly owned 13,206 shares of the company’s stock, valued at approximately $1,092,928.56. This represents a 22.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is owned by company insiders.

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.