Soleno Therapeutics, Inc. (NASDAQ:SLNO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,028 shares of the company's stock after selling 13,396 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.30% of Soleno Therapeutics worth $5,755,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Moody Aldrich Partners LLC purchased a new stake in Soleno Therapeutics in the 4th quarter valued at $1,331,000. Avior Wealth Management LLC purchased a new stake in Soleno Therapeutics in the 4th quarter valued at $89,000. Avanza Fonder AB purchased a new stake in Soleno Therapeutics in the 4th quarter valued at $76,000. Harbor Capital Advisors Inc. grew its holdings in Soleno Therapeutics by 3.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company's stock valued at $1,676,000 after buying an additional 1,248 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Soleno Therapeutics by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company's stock valued at $703,000 after buying an additional 3,666 shares in the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLNO has been the subject of a number of research analyst reports. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th. Robert W. Baird reiterated an "outperform" rating and set a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer increased their price target on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Stifel Nicolaus reiterated a "buy" rating and set a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics has a consensus rating of "Buy" and an average price target of $71.20.

Insider Buying and Selling

In other news, CFO James H. Mackaness sold 4,083 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the sale, the chief financial officer now owns 115,089 shares of the company's stock, valued at $5,226,191.49. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 10,937 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the sale, the chief executive officer now directly owns 708,616 shares of the company's stock, valued at $32,178,252.56. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is owned by insiders.

Soleno Therapeutics Stock Down 2.7 %

SLNO traded down $1.29 during trading on Friday, hitting $46.13. 352,731 shares of the stock were exchanged, compared to its average volume of 382,876. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $60.92. The firm has a market capitalization of $1.99 billion, a P/E ratio of -13.89 and a beta of -1.46. The stock has a fifty day moving average price of $47.24 and a two-hundred day moving average price of $49.94.

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.