Royce & Associates LP Trims Stock Holdings in Soleno Therapeutics, Inc. $SLNO

Royce & Associates LP lowered its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 69.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,987 shares of the company’s stock after selling 69,711 shares during the period. Royce & Associates LP owned approximately 0.06% of Soleno Therapeutics worth $2,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SLNO. Sofinnova Investments Inc. lifted its position in shares of Soleno Therapeutics by 1,026.2% during the second quarter. Sofinnova Investments Inc. now owns 415,219 shares of the company’s stock worth $34,787,000 after acquiring an additional 460,048 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Soleno Therapeutics by 1,206.9% in the second quarter. Balyasny Asset Management L.P. now owns 361,605 shares of the company’s stock valued at $30,295,000 after purchasing an additional 394,273 shares in the last quarter. Vanguard Group Inc. raised 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 valued at $189,763,000 after purchasing an additional 319,317 shares during the period. Geode Capital Management LLC raised its stake in shares of Soleno Therapeutics by 46.6% during the 2nd 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 period. Finally, State Street Corp lifted its holdings in Soleno Therapeutics by 20.2% during the 2nd 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 in the last quarter. 97.42% of the stock is owned by institutional investors.

Soleno Therapeutics Stock Performance

Shares of SLNO opened at $38.57 on Friday. 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 5.80, a quick ratio of 5.55 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.99 billion, a PE ratio of 167.70 and a beta of -3.16. The stock has a 50-day moving average price of $41.77 and a 200-day moving average price of $52.42.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.16. The company had revenue of $91.73 million during the quarter, compared to the consensus estimate of $88.55 million. As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Zacks Research lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. TD Cowen lowered their price target on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. HC Wainwright decreased their target price on shares of Soleno Therapeutics from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Wall Street Zen cut shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.85.

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.