Soleno Therapeutics (NASDAQ:SLNO) Upgraded to Strong-Buy by Baird R W

Baird R W upgraded shares of Soleno Therapeutics (NASDAQ:SLNO - Free Report) to a strong-buy rating in a research report report published on Friday, Zacks.com reports.

A number of other analysts also recently weighed in on SLNO. Oppenheimer dropped their target price on Soleno Therapeutics from $65.00 to $59.00 and set an outperform rating for the company in a research report on Monday. Robert W. Baird assumed coverage on shares of Soleno Therapeutics in a research note on Friday. They issued an outperform rating and a $72.00 price objective for the company. Stifel Nicolaus started coverage on shares of Soleno Therapeutics in a research report on Tuesday, January 23rd. They issued a buy rating and a $63.00 target price on the stock. Finally, Piper Sandler started coverage on shares of Soleno Therapeutics in a research report on Monday, February 5th. They set an overweight rating and a $93.00 price target for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $60.33.

Soleno Therapeutics Trading Up 1.6 %

Shares of NASDAQ:SLNO traded up $0.70 during trading on Friday, reaching $43.50. The company had a trading volume of 219,414 shares, compared to its average volume of 362,731. The company has a fifty day moving average of $42.36 and a two-hundred day moving average of $39.70. The stock has a market capitalization of $1.45 billion, a P/E ratio of -16.23 and a beta of -1.51. Soleno Therapeutics has a 12 month low of $3.69 and a 12 month high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.02). As a group, equities research analysts predict that Soleno Therapeutics will post -1.23 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 18,980 shares of the business's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $784,633.20. Following the transaction, the chief executive officer now owns 152,790 shares in the company, valued at $6,316,338.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO James H. Mackaness sold 5,175 shares of Soleno Therapeutics stock in a transaction on Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $213,934.50. Following the sale, the chief financial officer now owns 62,953 shares in the company, valued at $2,602,477.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bhatnagar Anish sold 18,980 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $41.34, for a total transaction of $784,633.20. Following the completion of the transaction, the chief executive officer now owns 152,790 shares of the company's stock, valued at $6,316,338.60. The disclosure for this sale can be found here. Insiders sold 776,373 shares of company stock valued at $36,940,260 in the last quarter. Company insiders own 12.30% of the company's stock.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SLNO. StemPoint Capital LP bought a new position in shares of Soleno Therapeutics in the 1st quarter worth approximately $4,958,000. Sei Investments Co. raised 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 worth $538,000 after purchasing an additional 2,264 shares in the last quarter. Swiss National Bank raised its holdings in Soleno Therapeutics by 32.0% in the first 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 in the last quarter. Carlyle Group Inc. lifted its position in Soleno Therapeutics by 42.5% during the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company's stock valued at $173,123,000 after buying an additional 1,213,758 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Soleno Therapeutics during the 1st quarter valued at $4,444,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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.