Avoro Capital Advisors Reduces $32M in Soleno Therapeutics, Inc. ($SLNO)
Avoro Capital Advisors reduced its SLNO stake, cutting 600,000 shares.
Key Points
- Avoro Capital Advisors reduced its stake in SLNO by 600,000 shares, a 20.7% decrease, leaving 2.3 million shares valued at $121.9 million as of May 15, 2026.
- SLNO shares traded around $53.01, with a market valuation reflecting recent institutional changes.
- Insiders at SLNO sold shares on May 18, 2026, and analysts have recently downgraded the stock to a hold rating.
Avoro Capital Advisors has cut its position in SLNO by 600,000 shares, representing a 20.7% reduction. This change leaves the firm with 2.3 million shares valued at approximately $121.9 million as of its latest SEC filing on May 15, 2026.
What Changed in Avoro Capital Advisors' SLNO Position
Avoro Capital Advisors reduced its holdings in SLNO from 2.9 million shares to 2.3 million shares, a decrease of 600,000 shares or 20.7%. The value of its remaining position is reported at $121.9 million.
Other Institutional Activity in SLNO
Janus Henderson Group PLC trimmed its SLNO holdings by 79,026 shares, ending with about 7.1 million shares worth $237.6 million. FMR LLC made a significant cut of 2,290,894 shares, bringing its total to 5.8 million shares valued at $193.8 million. In contrast, Wellington Management Group LLP increased its position by 1,103,982 shares, reaching a total of 4.4 million shares valued at $148.2 million. BlackRock, Inc. reduced its stake by 128,865 shares, leaving it with 3.7 million shares valued at $125.3 million. Meanwhile, State Street Corp added 31,176 shares, bringing its total to 2.7 million shares valued at $89.8 million.
SLNO Stock Snapshot
Shares of SLNO traded near $53.01. The company's stock has seen various institutional changes, reflecting ongoing interest and adjustments by major investors.
Insider Buying and Selling at Soleno Therapeutics, Inc.
On May 18, 2026, several insiders at SLNO sold shares. Mark Hahn sold 10,046 shares, while Birgitte Volck sold 16,758 shares. Manher Joshi, the Chief Development Officer, sold 20,171 shares. Meredith Manning, the Chief Commercial Officer, sold 91,000 shares, and Kevin Norrett, the Chief Business Officer, sold 68,286 shares. Andrew Sinclair also sold 17,581 shares.
Analysts Set New Price Targets
On April 17, 2026, Wells Fargo downgraded SLNO to a hold rating with a $53.00 price target. Similarly, HC Wainwright & Co., TD Cowen, and Cantor Fitzgerald all downgraded the stock to hold ratings in early April, each setting a $53.00 price target. Despite these downgrades, Oppenheimer maintained a buy rating with a higher target of $80.00 on March 18, 2026.
About SLNO
SLNO is a company operating in the [sector/industry], focusing on [describe core business or product]. The company is headquartered in [location] and is led by CEO [name]. It employs [number] people and is involved in [additional relevant information about business operations or market].
Bottom Line
Avoro Capital Advisors' reduction in SLNO shares highlights a shift in their investment strategy, though the reasons behind such moves can vary. Investors track these filings to gauge institutional sentiment, but it's important to remember that 13F filings are historical and may not reflect current positions.
See Also
This instant news alert was generated by automated narrative technology and financial data from Trueearnings and public regulatory filings. It is for informational purposes only and is not financial advice.