Soleno Therapeutics, Inc. $SLNO Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 9.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,060,361 shares of the company’s stock after acquiring an additional 253,212 shares during the period. Vanguard Group Inc. owned 0.06% of Soleno Therapeutics worth $141,695,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Soleno Therapeutics by 272.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,312,095 shares of the company’s stock worth $156,298,000 after acquiring an additional 1,691,057 shares during the last quarter. Braidwell LP purchased a new stake in shares of Soleno Therapeutics during the third quarter valued at $86,662,000. Invesco Ltd. boosted its position in shares of Soleno Therapeutics by 132.3% in the 3rd quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock valued at $101,435,000 after purchasing an additional 854,551 shares during the period. Commodore Capital LP boosted its position in shares of Soleno Therapeutics by 121.3% in the 3rd quarter. Commodore Capital LP now owns 1,350,000 shares of the company’s stock valued at $91,260,000 after purchasing an additional 740,000 shares during the period. Finally, Franklin Resources Inc. increased its stake in Soleno Therapeutics by 348.4% in the 3rd quarter. Franklin Resources Inc. now owns 835,751 shares of the company’s stock worth $56,497,000 after purchasing an additional 649,349 shares in the last quarter. 97.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on SLNO shares. Piper Sandler lowered shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wells Fargo & Company set a $53.00 target price on shares of Soleno Therapeutics and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. HC Wainwright downgraded shares of Soleno Therapeutics from a “buy” rating to a “hold” rating and reduced their price target for the company from $100.00 to $53.00 in a research report on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Soleno Therapeutics currently has an average rating of “Hold” and an average target price of $76.67.

Soleno Therapeutics Trading Down 0.0%

NASDAQ:SLNO opened at $52.94 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.62 and a quick ratio of 5.32. The stock has a market cap of $2.76 billion, a PE ratio of 230.18 and a beta of -2.22. The stock’s 50-day moving average is $43.81 and its two-hundred day moving average is $46.16. Soleno Therapeutics, Inc. has a fifty-two week low of $29.43 and a fifty-two week high of $90.32.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. Soleno Therapeutics had a net margin of 33.70% and a return on equity of 22.85%. The company had revenue of $91.73 million during the quarter, compared to the consensus estimate of $88.55 million. As a group, equities research analysts forecast that Soleno Therapeutics, Inc. will post 3.67 earnings per share for the current fiscal year.

Soleno Therapeutics 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.