Soleno Therapeutics (NASDAQ:SLNO) Now Covered by Robert W. Baird

Robert W. Baird assumed coverage on shares of Soleno Therapeutics (NASDAQ:SLNO - Free Report) in a research note released on Friday, Marketbeat reports. The firm issued an outperform rating and a $72.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus began coverage on shares of Soleno Therapeutics in a report on Tuesday, January 23rd. They issued a buy rating and a $63.00 price target on the stock. Piper Sandler began coverage on shares of Soleno Therapeutics in a research note on Monday, February 5th. They set an overweight rating and a $93.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of Buy and a consensus target price of $58.33.

Soleno Therapeutics Trading Down 5.6 %

Shares of NASDAQ SLNO traded down $2.65 during trading hours on Friday, reaching $44.99. The stock had a trading volume of 546,056 shares, compared to its average volume of 363,572. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -15.15 and a beta of -1.51. Soleno Therapeutics has a 52-week low of $3.69 and a 52-week high of $53.82. The business's fifty day moving average price is $42.49 and its two-hundred day moving average price is $39.21.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). Equities research analysts anticipate that Soleno Therapeutics will post -1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the company's stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the transaction, the insider now owns 7,668,093 shares in the company, valued at approximately $366,534,845.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Soleno Therapeutics news, insider Kristen Yen sold 2,218 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $91,692.12. Following the completion of the transaction, the insider now owns 23,422 shares of the company's stock, valued at approximately $968,265.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the firm's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the transaction, the insider now directly owns 7,668,093 shares of the company's stock, valued at approximately $366,534,845.40. The disclosure for this sale can be found here. Insiders sold a total of 776,373 shares of company stock worth $36,940,260 in the last 90 days. Insiders own 28.80% of the company's stock.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its position in Soleno Therapeutics by 22.0% in the 1st 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 period. Swiss National Bank lifted its position in shares of Soleno Therapeutics by 32.0% during the 1st quarter. Swiss National Bank now owns 30,100 shares of the company's stock worth $1,288,000 after purchasing an additional 7,300 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Soleno Therapeutics during the 3rd quarter worth $280,000. Cannon Global Investment Management LLC purchased a new stake in shares of Soleno Therapeutics during the 1st quarter worth $505,000. Finally, Aspiriant LLC purchased a new stake in shares of Soleno Therapeutics during the 4th quarter worth $488,000. Hedge funds and other institutional investors 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.