Soleno Therapeutics, Inc. (NASDAQ:SLNO) Stock Holdings Cut by Emerald Advisers LLC

Emerald Advisers LLC cut its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,481 shares of the company's stock after selling 16,438 shares during the quarter. Soleno Therapeutics comprises 1.8% of Emerald Advisers LLC's investment portfolio, making the stock its 8th biggest position. Emerald Advisers LLC owned about 1.13% of Soleno Therapeutics worth $40,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in shares of Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after purchasing an additional 1,107,166 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in shares of Soleno Therapeutics by 20.1% during the 4th 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. Avoro Capital Advisors LLC grew its holdings in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after purchasing an additional 344,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock worth $84,710,000 after acquiring an additional 303,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock worth $73,301,000 after acquiring an additional 321,223 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the transaction, the insider directly owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.40% of the stock is currently owned by insiders.

Soleno Therapeutics Stock Performance

Shares of SLNO traded up $0.69 during mid-day trading on Monday, hitting $82.26. 268,581 shares of the company traded hands, compared to its average volume of 826,671. The stock has a 50-day moving average price of $78.84 and a two-hundred day moving average price of $62.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 19.64 and a current ratio of 19.64. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of -17.81 and a beta of -2.63. Soleno Therapeutics, Inc. has a 1 year low of $41.50 and a 1 year high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.19. Equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SLNO has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their price target 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. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Soleno Therapeutics in a research note on Tuesday, April 15th. Laidlaw lifted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Piper Sandler lifted their price target on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus lifted their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Soleno Therapeutics has a consensus rating of "Buy" and a consensus price target of $108.70.

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.