Avoro Capital Advisors 13F: Cuts SLNO Stake by $32M

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.