Allspring Global Investments Holdings LLC Invests $4.44 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Allspring Global Investments Holdings LLC acquired a new position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 103,839 shares of the company’s stock, valued at approximately $4,444,000. Allspring Global Investments Holdings LLC owned approximately 0.31% of Soleno Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cannon Global Investment Management LLC purchased a new position in shares of Soleno Therapeutics in the 1st quarter worth about $505,000. Wellington Management Group LLP bought a new position in shares of Soleno Therapeutics in the fourth quarter worth approximately $8,557,000. Avoro Capital Advisors LLC purchased a new stake in shares of Soleno Therapeutics during the fourth quarter valued at approximately $31,596,000. Vestal Point Capital LP bought a new stake in shares of Soleno Therapeutics during the fourth quarter valued at approximately $52,325,000. Finally, Rafferty Asset Management LLC purchased a new position in Soleno Therapeutics in the 4th quarter worth approximately $2,088,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLNO. Baird R W raised Soleno Therapeutics to a “strong-buy” rating in a report on Friday, May 10th. Oppenheimer lowered their price target on Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, May 13th. Finally, Robert W. Baird initiated coverage on Soleno Therapeutics in a report on Friday, May 10th. They issued an “outperform” rating and a $72.00 price objective for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics has an average rating of “Buy” and a consensus price target of $60.33.

Insider Buying and Selling at Soleno Therapeutics

In other news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $47.80, for a total value of $35,850,000.00. Following the sale, the insider now directly owns 7,668,093 shares in the company, valued at approximately $366,534,845.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.30% of the stock is currently owned by company insiders.

Soleno Therapeutics Stock Down 0.0 %

NASDAQ SLNO traded down $0.01 during trading hours on Tuesday, reaching $42.28. The company’s stock had a trading volume of 66,547 shares, compared to its average volume of 402,497. Soleno Therapeutics, Inc. has a 1 year low of $3.69 and a 1 year high of $53.82. The firm’s 50-day moving average price is $43.30 and its 200-day moving average price is $43.30.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.29). Research analysts predict that Soleno Therapeutics, Inc. will post -2.36 EPS for the current fiscal year.

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.