Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Recommendation of "Buy" by Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have been assigned an average rating of "Buy" from the ten analysts that are covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $104.67.

Several research firms have recently commented on SLNO. Piper Sandler raised their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Stifel Nicolaus boosted their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. UBS Group set a $105.00 target price on Soleno Therapeutics in a report on Thursday, March 27th. Finally, Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Tuesday, February 4th.

Soleno Therapeutics Stock Down 0.5 %

NASDAQ SLNO traded down $0.41 on Friday, reaching $74.86. The stock had a trading volume of 701,824 shares, compared to its average volume of 728,218. The stock has a fifty day moving average price of $58.49 and a two-hundred day moving average price of $53.16. Soleno Therapeutics has a 12-month low of $36.93 and a 12-month high of $76.56. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -22.55 and a beta of -2.29.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Sell-side analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the completion of the transaction, the chief executive officer now owns 577,076 shares in the company, valued at $39,021,879.12. This represents a 54.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James H. Mackaness sold 90,622 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $69.44, for a total value of $6,292,791.68. Following the transaction, the chief financial officer now directly owns 105,176 shares in the company, valued at approximately $7,303,421.44. The trade was a 46.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 942,672 shares of company stock worth $64,058,781. Corporate insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently modified their holdings of SLNO. AlphaQuest LLC raised its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics in the fourth quarter valued at about $34,000. Avanza Fonder AB acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $81,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Soleno Therapeutics during the fourth quarter worth about $89,000. 97.42% of the stock is owned by institutional investors and hedge funds.

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.