Allspring Global Investments Holdings LLC Buys 7,840 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Allspring Global Investments Holdings LLC increased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 5.9% during the 3rd quarter, Holdings Channel reports. The fund owned 141,424 shares of the company’s stock after buying an additional 7,840 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Soleno Therapeutics were worth $7,140,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics during the 2nd quarter worth about $31,000. Victory Capital Management Inc. boosted its position in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after purchasing an additional 2,236 shares during the last quarter. Sei Investments Co. grew its stake in Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Soleno Therapeutics by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Soleno Therapeutics by 32.0% during the 1st quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after purchasing an additional 7,300 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Insider Buying and Selling

In related news, insider Kristen Yen sold 3,108 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the sale, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO James H. Mackaness sold 8,077 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 771,441 shares of company stock valued at $37,178,033. 12.30% of the stock is owned by company insiders.

Soleno Therapeutics Trading Up 3.6 %

Soleno Therapeutics stock opened at $54.92 on Monday. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -20.49 and a beta of -1.45. The stock’s 50 day moving average is $50.55 and its 200-day moving average is $46.23. Soleno Therapeutics, Inc. has a 12 month low of $21.30 and a 12 month high of $56.81.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.06. As a group, equities research analysts predict that Soleno Therapeutics, Inc. will post -2.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLNO. HC Wainwright started coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price for the company. Oppenheimer lifted their price objective on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Finally, Stifel Nicolaus lifted their price target on Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $68.71.

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.