Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Rating of “Buy” by Brokerages

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $74.83.

SLNO has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, November 11th. Oppenheimer increased their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total value of $2,693,646.54. Following the completion of the sale, the chief executive officer now owns 799,577 shares in the company, valued at approximately $38,043,873.66. This trade represents a 6.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kristen Yen sold 5,270 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $250,746.60. Following the completion of the sale, the insider now owns 90,008 shares of the company’s stock, valued at approximately $4,282,580.64. This trade represents a 5.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,362 shares of company stock valued at $9,605,517. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth approximately $490,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth approximately $656,000. Geode Capital Management LLC increased its stake in shares of Soleno Therapeutics by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after purchasing an additional 51,189 shares during the last quarter. Barclays PLC increased its stake in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after purchasing an additional 31,467 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Soleno Therapeutics by 73.8% during the 3rd quarter. Wellington Management Group LLP now owns 683,170 shares of the company’s stock worth $34,493,000 after purchasing an additional 290,135 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Down 1.0 %

Shares of Soleno Therapeutics stock opened at $57.22 on Tuesday. The business has a 50-day moving average price of $53.27 and a two-hundred day moving average price of $48.34. Soleno Therapeutics has a 1-year low of $26.38 and a 1-year high of $60.92. The company has a market cap of $2.47 billion, a P/E ratio of -17.23 and a beta of -1.44.

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

About Soleno Therapeutics

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.