Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $81.60 and last traded at $81.42, with a volume of 1037935 shares changing hands. The stock had previously closed at $79.98.
Analyst Upgrades and Downgrades
SLNO has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $100.00 price target on shares of Soleno Therapeutics in a report on Tuesday, April 15th. Robert W. Baird increased their price objective on Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Cantor Fitzgerald boosted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a research report on Thursday, March 27th. UBS Group set a $105.00 target price on shares of Soleno Therapeutics in a research report on Thursday, March 27th. Finally, Stifel Nicolaus lifted their target price on Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $107.10.
View Our Latest Stock Analysis on Soleno Therapeutics
Soleno Therapeutics Stock Performance
The firm has a market capitalization of $4.10 billion, a P/E ratio of -17.62 and a beta of -2.69. The stock has a fifty day simple moving average of $75.22 and a two-hundred day simple moving average of $58.93. 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.
Insider Activity
In related news, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the sale, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This represents a 54.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the sale, the insider now directly owns 27,036 shares in the company, valued at $1,895,493.96. This trade represents a 12.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 in the last 90 days. Insiders own 6.40% of the company's stock.
Hedge Funds Weigh In On Soleno Therapeutics
A number of institutional investors have recently added to or reduced their stakes in SLNO. AlphaQuest LLC increased its position in shares of Soleno Therapeutics by 1,154.4% during 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 Soleno Therapeutics in the 4th quarter worth approximately $34,000. Quarry LP purchased a new stake in Soleno Therapeutics in the 1st quarter worth approximately $121,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in Soleno Therapeutics in the 4th quarter worth approximately $81,000. Finally, Avanza Fonder AB lifted its holdings in Soleno Therapeutics by 14.8% in the 1st quarter. Avanza Fonder AB now owns 1,951 shares of the company's stock worth $144,000 after buying an additional 251 shares during the period. 97.42% of the stock is currently owned by institutional investors.
Soleno Therapeutics Company Profile
(
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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