Westfield Capital Management Co. LP Reduces Stock Position in Soleno Therapeutics, Inc. $SLNO

Westfield Capital Management Co. LP lessened its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 37.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 899,157 shares of the company’s stock after selling 530,599 shares during the period. Westfield Capital Management Co. LP owned approximately 1.67% of Soleno Therapeutics worth $60,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Soleno Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after acquiring an additional 189 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Soleno Therapeutics in the 2nd quarter worth approximately $25,000. Principal Financial Group Inc. boosted its holdings in shares of Soleno Therapeutics by 11.9% in the third quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock worth $216,000 after buying an additional 340 shares during the last quarter. New York State Common Retirement Fund grew its position in Soleno Therapeutics by 2.4% during the third quarter. New York State Common Retirement Fund now owns 15,600 shares of the company’s stock valued at $1,055,000 after buying an additional 360 shares during the period. Finally, Nisa Investment Advisors LLC grew 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 valued at $45,000 after buying an additional 400 shares during the period. 97.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research downgraded shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $114.00 target price (up from $106.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. TD Cowen lowered their target price on Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright restated a “buy” rating and issued a $120.00 price target (up from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Finally, Robert W. Baird set a $107.00 price objective on Soleno Therapeutics in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.69.

Soleno Therapeutics Stock Performance

NASDAQ:SLNO opened at $38.09 on Friday. The stock has a 50-day moving average price of $42.80 and a 200 day moving average price of $53.86. The stock has a market capitalization of $2.05 billion, a P/E ratio of 165.62 and a beta of -3.16. Soleno Therapeutics, Inc. has a 12-month low of $32.63 and a 12-month high of $90.32. 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 (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $91.73 million during the quarter, compared to analysts’ expectations of $88.55 million. Equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal 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.