Comerica Bank Sells 164,496 Shares of Soleno Therapeutics, Inc. $SLNO

Comerica Bank reduced its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 98.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,330 shares of the company’s stock after selling 164,496 shares during the period. Comerica Bank’s holdings in Soleno Therapeutics were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Soleno Therapeutics by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock valued at $141,695,000 after purchasing an additional 253,212 shares during the period. Avoro Capital Advisors LLC grew its stake in shares of Soleno Therapeutics by 25.7% in the 3rd quarter. Avoro Capital Advisors LLC now owns 2,577,777 shares of the company’s stock valued at $174,258,000 after purchasing an additional 527,777 shares during the period. Wellington Management Group LLP grew its stake 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 valued at $156,298,000 after purchasing an additional 1,691,057 shares during the period. Invesco Ltd. grew its stake 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. Finally, State Street Corp grew its stake in shares of Soleno Therapeutics by 20.2% in the 2nd quarter. State Street Corp now owns 1,404,983 shares of the company’s stock valued at $117,709,000 after purchasing an additional 235,784 shares during the period. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Stock Up 0.0%

Shares of SLNO opened at $53.01 on Friday. The company has a market capitalization of $2.76 billion, a P/E ratio of 29.95 and a beta of -2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.62 and a quick ratio of 5.32. Soleno Therapeutics, Inc. has a one year low of $29.43 and a one year high of $90.32. The business’s 50 day simple moving average is $44.97 and its 200-day simple moving average is $45.96.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Lifesci Capital lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Wall Street Zen lowered Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. HC Wainwright downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $100.00 to $53.00 in a report on Wednesday, April 8th. Cantor Fitzgerald downgraded Soleno Therapeutics from an “overweight” rating to a “hold” rating and reduced their target price for the stock from $123.00 to $53.00 in a report on Monday, April 6th. Finally, TD Cowen downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $85.00 to $53.00 in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $76.67.

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.