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

Allspring Global Investments Holdings LLC raised its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 28.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,584 shares of the company's stock after purchasing an additional 29,745 shares during the period. Allspring Global Investments Holdings LLC owned 0.40% of Soleno Therapeutics worth $5,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLNO. Cannon Global Investment Management LLC purchased a new stake in Soleno Therapeutics during the first quarter valued at approximately $505,000. Sei Investments Co. grew its stake in shares of Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company's stock valued at $538,000 after buying an additional 2,264 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Soleno Therapeutics during the second quarter valued at approximately $569,000. California State Teachers Retirement System grew its stake in shares of Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company's stock valued at $590,000 after buying an additional 3,481 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $918,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded up $2.39 during midday trading on Friday, hitting $48.95. 475,543 shares of the company traded hands, compared to its average volume of 602,455. The company has a market cap of $1.90 billion, a PE ratio of -18.26 and a beta of -1.39. The company's 50-day simple moving average is $46.13 and its 200-day simple moving average is $44.54. Soleno Therapeutics, Inc. has a 52 week low of $3.69 and a 52 week high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.06. On average, research analysts predict that Soleno Therapeutics, Inc. will post -2.27 earnings per share for the current year.

Insider Activity

In other news, insider Kristen Yen sold 2,170 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the completion of the sale, the insider now owns 21,252 shares in the company, valued at approximately $882,808.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO James H. Mackaness sold 7,190 shares of the business's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $298,672.60. Following the completion of the transaction, the chief financial officer now owns 55,763 shares of the company's stock, valued at approximately $2,316,395.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kristen Yen sold 2,170 shares of Soleno Therapeutics stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the transaction, the insider now owns 21,252 shares of the company's stock, valued at approximately $882,808.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 767,239 shares of company stock worth $36,744,548. Insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Baird R W raised Soleno Therapeutics to a "strong-buy" rating in a research note on Friday, May 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Robert W. Baird began coverage on Soleno Therapeutics in a research note on Friday, May 10th. They issued an "outperform" rating and a $72.00 price objective on the stock. Finally, Oppenheimer increased their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Monday, August 12th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $66.67.

Soleno Therapeutics 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.