Soleno Therapeutics (NASDAQ:SLNO) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a report published on Monday morning,Benzinga reports. They currently have a $70.00 target price on the stock.

Other analysts also recently issued research reports about the company. Oppenheimer boosted their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Finally, Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $69.86.

Soleno Therapeutics Trading Down 2.8 %

NASDAQ:SLNO opened at $55.68 on Monday. The firm has a fifty day simple moving average of $52.48 and a two-hundred day simple moving average of $47.84. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -16.88 and a beta of -1.44. Soleno Therapeutics has a 12 month low of $21.75 and a 12 month high of $59.75.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Equities analysts predict that Soleno Therapeutics will post -3.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the sale, the insider now owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of Soleno Therapeutics stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the completion of the sale, the insider now owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now directly owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 701,362 shares of company stock valued at $33,970,517 over the last 90 days. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SLNO. Amalgamated Bank purchased a new stake in Soleno Therapeutics in the second quarter valued at approximately $31,000. Curi RMB Capital LLC purchased a new stake in shares of Soleno Therapeutics in the 3rd quarter valued at approximately $202,000. Intech Investment Management LLC acquired a new stake in shares of Soleno Therapeutics in the 3rd quarter valued at $262,000. Victory Capital Management Inc. grew its stake in shares of Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after buying an additional 2,264 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.