Emerald Advisers LLC Trims Position in Soleno Therapeutics, Inc. $SLNO

Emerald Advisers LLC lessened its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 6.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 627,756 shares of the company’s stock after selling 45,152 shares during the quarter. Soleno Therapeutics makes up 1.4% of Emerald Advisers LLC’s portfolio, making the stock its 18th biggest position. Emerald Advisers LLC owned 1.18% of Soleno Therapeutics worth $42,436,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Emerald Mutual Fund Advisers Trust raised its holdings in Soleno Therapeutics by 9.1% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 405,651 shares of the company’s stock worth $33,985,000 after purchasing an additional 33,954 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Soleno Therapeutics by 255.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 280,984 shares of the company’s stock worth $18,995,000 after buying an additional 201,983 shares during the last quarter. Castleark Management LLC bought a new position in Soleno Therapeutics during the 2nd quarter valued at approximately $2,919,000. TD Asset Management Inc boosted its holdings in Soleno Therapeutics by 34.9% in the second quarter. TD Asset Management Inc now owns 99,810 shares of the company’s stock worth $8,362,000 after acquiring an additional 25,800 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Soleno Therapeutics in the third quarter worth $1,000,000. Institutional investors own 97.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SLNO. Wolfe Research set a $60.00 target price on Soleno Therapeutics in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $114.00 target price (up previously from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday. The Goldman Sachs Group set a $125.00 price target on shares of Soleno Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $110.62.

Soleno Therapeutics Trading Down 0.4%

Shares of SLNO stock opened at $43.56 on Thursday. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. Soleno Therapeutics, Inc. has a 12-month low of $39.43 and a 12-month high of $90.32. The stock has a market capitalization of $2.34 billion, a P/E ratio of -23.67 and a beta of -3.12. The firm’s 50 day moving average is $47.32 and its 200 day moving average is $61.69.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million for the quarter, compared to the consensus estimate of $47.46 million. Research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current 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.