State of New Jersey Common Pension Fund D Sells 15,056 Shares of Soleno Therapeutics, Inc. $SLNO

State of New Jersey Common Pension Fund D trimmed its position in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 49.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,418 shares of the company’s stock after selling 15,056 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Soleno Therapeutics were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Soleno Therapeutics by 1.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock worth $1,242,000 after acquiring an additional 189 shares during the period. Goldman Sachs Group Inc. increased its position in Soleno Therapeutics by 50.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock valued at $45,236,000 after purchasing an additional 213,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Soleno Therapeutics by 48.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company’s stock valued at $2,909,000 after purchasing an additional 13,211 shares in the last quarter. Creative Planning bought a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at about $338,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Soleno Therapeutics in the 2nd quarter worth approximately $413,000. Institutional investors own 97.42% of the company’s stock.

Analyst Ratings Changes

SLNO has been the topic of a number of recent research reports. Lifesci Capital downgraded shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. TD Cowen lowered Soleno Therapeutics from a “buy” rating to a “hold” rating and lowered their target price for the stock from $85.00 to $53.00 in a report on Tuesday, April 7th. Robert W. Baird cut Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Piper Sandler downgraded Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Cantor Fitzgerald lowered Soleno Therapeutics from an “overweight” rating to a “hold” rating and reduced their price target for the stock from $123.00 to $53.00 in a research report on Monday, April 6th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $76.67.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $52.94 on Tuesday. The firm’s fifty day simple moving average is $43.81 and its two-hundred day simple moving average is $46.16. The firm has a market capitalization of $2.76 billion, a P/E ratio of 230.18 and a beta of -2.22. The company has a current ratio of 5.62, a quick ratio of 5.32 and a debt-to-equity ratio of 0.10. Soleno Therapeutics, Inc. has a 12-month low of $29.43 and a 12-month high of $90.32.

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

About Soleno Therapeutics

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.