Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) shares saw strong trading volume on Thursday . 2,126,624 shares traded hands during trading, an increase of 165% from the previous session's volume of 803,580 shares.The stock last traded at $82.25 and had previously closed at $88.49.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on SLNO shares. UBS Group set a $105.00 target price on Soleno Therapeutics in a research note on Thursday, March 27th. Cantor Fitzgerald increased their target price on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Cowen started coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They set a "buy" rating for the company. Piper Sandler increased their target price on Soleno Therapeutics from $93.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, TD Cowen started coverage on Soleno Therapeutics in a research note on Monday, June 23rd. They set a "buy" rating and a $110.00 target price for the company. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Soleno Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $108.70.
Read Our Latest Stock Report on Soleno Therapeutics
Soleno Therapeutics Price Performance
The company has a fifty day moving average of $78.84 and a 200 day moving average of $62.90. The firm has a market capitalization of $4.11 billion, a P/E ratio of -17.66 and a beta of -2.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 19.64 and a quick ratio of 19.64.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.14) by $0.19. Sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.
Insider Transactions at Soleno Therapeutics
In other Soleno Therapeutics news, insider Patricia C. Hirano sold 3,830 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $82.76, for a total value of $316,970.80. Following the completion of the transaction, the insider owned 13,206 shares in the company, valued at $1,092,928.56. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.40% of the company's stock.
Institutional Trading of Soleno Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. raised its holdings in shares of Soleno Therapeutics by 58.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company's stock valued at $313,858,000 after buying an additional 1,616,720 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after buying an additional 1,107,166 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Soleno Therapeutics by 47.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company's stock valued at $171,510,000 after buying an additional 769,700 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after buying an additional 658,518 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Soleno Therapeutics by 3,789.4% during the 1st quarter. Invesco Ltd. now owns 467,193 shares of the company's stock valued at $33,381,000 after buying an additional 455,181 shares in the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.
About Soleno Therapeutics
(
Get Free Report)
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.
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