Allspring Global Investments Holdings LLC Purchases 201,983 Shares of Soleno Therapeutics, Inc. $SLNO

Allspring Global Investments Holdings LLC raised its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 255.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 280,984 shares of the company’s stock after purchasing an additional 201,983 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Soleno Therapeutics were worth $18,995,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SLNO. Raymond James Financial Inc. bought a new stake in shares of Soleno Therapeutics in the 2nd quarter worth approximately $25,000. Nisa Investment Advisors LLC boosted its position in Soleno Therapeutics by 287.8% during the second quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after purchasing an additional 400 shares during the period. Osaic Holdings Inc. increased its stake in shares of Soleno Therapeutics by 97.7% in the second quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock worth $72,000 after purchasing an additional 423 shares in the last quarter. KBC Group NV bought a new stake in shares of Soleno Therapeutics in the second quarter valued at approximately $77,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Soleno Therapeutics in the second quarter valued at approximately $113,000. 97.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SLNO has been the topic of a number of recent research reports. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Wednesday, September 10th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $106.00 target price (down previously from $123.00) on shares of Soleno Therapeutics in a research note on Wednesday, November 5th. The Goldman Sachs Group set a $125.00 price objective on shares of Soleno Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wolfe Research began coverage on shares of Soleno Therapeutics in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $111.46.

Soleno Therapeutics Price Performance

Shares of Soleno Therapeutics stock opened at $47.17 on Monday. The company’s fifty day simple moving average is $51.10 and its two-hundred day simple moving average is $65.23. Soleno Therapeutics, Inc. has a 12-month low of $41.50 and a 12-month high of $90.32. The firm has a market cap of $2.53 billion, a PE ratio of -25.64 and a beta of -3.12. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million for the quarter, compared to the consensus estimate of $47.46 million. As a group, equities analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

About Soleno Therapeutics

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.