Readystate Asset Management LP Has $13.91 Million Holdings in Soleno Therapeutics, Inc. $SLNO

Readystate Asset Management LP trimmed its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 47.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 205,807 shares of the company’s stock after selling 187,002 shares during the quarter. Readystate Asset Management LP owned about 0.39% of Soleno Therapeutics worth $13,913,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Soleno Therapeutics by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,807,149 shares of the company’s stock worth $189,763,000 after acquiring an additional 319,317 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in Soleno Therapeutics by 18.0% in the 2nd quarter. Westfield Capital Management Co. LP now owns 1,429,756 shares of the company’s stock worth $119,785,000 after purchasing an additional 218,511 shares during the last quarter. State Street Corp boosted its position in Soleno Therapeutics by 20.2% during the second quarter. State Street Corp now owns 1,404,983 shares of the company’s stock worth $117,709,000 after purchasing an additional 235,784 shares during the period. Geode Capital Management LLC grew its holdings in Soleno Therapeutics by 46.6% during the second quarter. Geode Capital Management LLC now owns 902,396 shares of the company’s stock valued at $75,611,000 after purchasing an additional 286,660 shares during the last quarter. Finally, Emerald Advisers LLC raised its position in shares of Soleno Therapeutics by 19.2% in the second quarter. Emerald Advisers LLC now owns 672,908 shares of the company’s stock valued at $56,376,000 after purchasing an additional 108,427 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on SLNO. Zacks Research downgraded shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. Wells Fargo & Company reiterated an “overweight” rating and issued a $114.00 price objective (up from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Wolfe Research set a $60.00 price target on Soleno Therapeutics in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.62.

Soleno Therapeutics Stock Performance

Shares of NASDAQ SLNO opened at $38.50 on Wednesday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -20.92 and a beta of -3.16. Soleno Therapeutics, Inc. has a one year low of $36.67 and a one year high of $90.32. The business has a fifty day simple moving average of $44.27 and a 200 day simple moving average of $55.55. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10.

Soleno Therapeutics Company Profile

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.