Soleno Therapeutics (NASDAQ:SLNO) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research note released on Monday,Benzinga reports. HC Wainwright currently has a $70.00 price target on the stock.

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

Soleno Therapeutics Price Performance

SLNO stock opened at $54.08 on Monday. The firm has a market capitalization of $2.33 billion, a P/E ratio of -16.70 and a beta of -1.44. The business’s 50-day moving average is $52.59 and its two-hundred day moving average is $47.89. Soleno Therapeutics has a 1 year low of $21.75 and a 1 year high of $59.75.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results 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). On average, analysts expect that Soleno Therapeutics will post -3.76 EPS for the current year.

Insider Buying and Selling

In other Soleno Therapeutics news, CFO James H. Mackaness sold 8,077 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total transaction of $399,246.11. Following the completion of the sale, the chief financial officer now directly owns 119,172 shares of the company’s stock, valued at approximately $5,890,671.96. This trade represents a 6.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen Yen sold 3,108 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $4,026,814.95. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 701,362 shares of company stock worth $33,970,517 in the last quarter. 12.30% of the stock is owned by insiders.

Institutional Trading of Soleno Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new stake in Soleno Therapeutics during the 1st quarter worth approximately $6,533,000. Sofinnova Investments Inc. lifted its position in Soleno Therapeutics by 267.7% during the 2nd quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock worth $22,618,000 after acquiring an additional 403,584 shares during the period. TD Asset Management Inc lifted its position in Soleno Therapeutics by 174.0% during the 2nd quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock worth $2,347,000 after acquiring an additional 36,534 shares during the period. Samlyn Capital LLC lifted its position in Soleno Therapeutics by 128.9% during the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock worth $20,443,000 after acquiring an additional 282,122 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Soleno Therapeutics during the 2nd quarter worth approximately $3,623,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.