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

Allspring Global Investments Holdings LLC cut its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 47.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,349 shares of the company's stock after selling 60,679 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.15% of Soleno Therapeutics worth $4,812,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SLNO. Legal & General Group Plc raised its stake in shares of Soleno Therapeutics by 9.2% during the fourth quarter. Legal & General Group Plc now owns 23,471 shares of the company's stock valued at $1,055,000 after purchasing an additional 1,983 shares in the last quarter. Emerald Advisers LLC raised its stake in shares of Soleno Therapeutics by 85.4% during the fourth quarter. Emerald Advisers LLC now owns 580,919 shares of the company's stock valued at $26,112,000 after purchasing an additional 267,585 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Soleno Therapeutics by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,550 shares of the company's stock valued at $9,779,000 after purchasing an additional 24,953 shares in the last quarter. Sei Investments Co. raised its stake in shares of Soleno Therapeutics by 47.0% during the fourth quarter. Sei Investments Co. now owns 16,444 shares of the company's stock valued at $739,000 after purchasing an additional 5,258 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Soleno Therapeutics by 4,377.3% during the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after acquiring an additional 3,283 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Soleno Therapeutics Stock Up 0.5%

Shares of Soleno Therapeutics stock traded up $0.43 during trading on Friday, hitting $86.64. 330,112 shares of the stock traded hands, compared to its average volume of 791,444. The company has a fifty day moving average price of $77.90 and a two-hundred day moving average price of $61.43. Soleno Therapeutics, Inc. has a twelve month low of $40.67 and a twelve month 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. The stock has a market cap of $4.37 billion, a P/E ratio of -18.75 and a beta of -2.63.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLNO. Guggenheim lifted their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Robert W. Baird lifted their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Stifel Nicolaus lifted their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Finally, Cowen began coverage on Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating on the stock. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $107.10.

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.