Soleno Therapeutics (SLNO) saw its shares drop sharply by 5.06% during Tuesday's intraday trading session. The decline followed a negative adjustment by Baird, which lowered its target price for the stock from $121 to $107.
The target price cut by a major financial institution like Baird likely triggered investor concerns, leading to the sell-off. Such revisions often reflect revised expectations for the company's future performance or valuation.
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