Royce & Associates LP Sells 69,711 Shares of Soleno Therapeutics, Inc. $SLNO

Royce & Associates LP decreased its position in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 69.2% during the third quarter, HoldingsChannel reports. The firm owned 30,987 shares of the company’s stock after selling 69,711 shares during the period. Royce & Associates LP’s holdings in Soleno Therapeutics were worth $2,095,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Soleno Therapeutics in the 2nd quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Soleno Therapeutics in the 3rd quarter worth approximately $37,000. Nisa Investment Advisors LLC lifted its position in Soleno Therapeutics by 287.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after buying an additional 400 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Soleno Therapeutics in the third quarter worth approximately $67,000. Finally, Osaic Holdings Inc. grew its position in Soleno Therapeutics by 97.7% during the second quarter. Osaic Holdings Inc. now owns 856 shares of the company’s stock valued at $72,000 after acquiring an additional 423 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 1.2%

Shares of SLNO opened at $38.57 on Friday. The stock has a market capitalization of $1.99 billion, a P/E ratio of 167.70 and a beta of -3.16. Soleno Therapeutics, Inc. has a twelve month low of $32.63 and a twelve month high of $90.32. The company has a quick ratio of 5.55, a current ratio of 5.80 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $41.77 and a two-hundred day simple moving average of $52.42.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.64 by $0.16. The firm had revenue of $91.73 million for the quarter, compared to the consensus estimate of $88.55 million. On average, research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on SLNO. Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. Wells Fargo & Company decreased their target price on shares of Soleno Therapeutics from $114.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. TD Cowen cut their price target on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Wolfe Research set a $60.00 price objective on Soleno Therapeutics in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $106.85.

Soleno Therapeutics Company 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.