Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $81.60 and last traded at $81.42, with a volume of 1037935 shares. The stock had previously closed at $79.98.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on SLNO. UBS Group set a $105.00 price target on Soleno Therapeutics in a research note on Thursday, March 27th. Laidlaw boosted their target price on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. TD Cowen initiated coverage on shares of Soleno Therapeutics in a research note on Monday. They set a "buy" rating and a $110.00 price target on the stock. Cantor Fitzgerald raised their price target on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a report on Friday, March 28th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of "Buy" and a consensus target price of $107.10.
Read Our Latest Research Report on SLNO
Soleno Therapeutics Price Performance
The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -18.19 and a beta of -2.69. The stock's 50 day moving average price is $76.04 and its two-hundred day moving average price is $59.51. The company has a quick ratio of 19.64, a current ratio of 19.64 and a debt-to-equity ratio of 0.21.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.19. Equities research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.
Insider Activity
In related news, Director Matthew Pauls sold 5,937 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $71.55, for a total transaction of $424,792.35. Following the completion of the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $465,075. This trade represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patricia C. Hirano sold 3,782 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $70.11, for a total value of $265,156.02. Following the completion of the sale, the insider now owns 27,036 shares in the company, valued at approximately $1,895,493.96. This represents a 12.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,985 shares of company stock valued at $712,359 in the last quarter. 6.40% of the stock is currently owned by company insiders.
Institutional Trading of Soleno Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC raised its position in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after acquiring an additional 658 shares during the period. US Bancorp DE purchased a new position in shares of Soleno Therapeutics in the 4th quarter valued at about $34,000. Springhill Fund Asset Management HK Co Ltd acquired a new position in Soleno Therapeutics in the 4th quarter worth about $81,000. Summit Investment Advisors Inc. raised its holdings in Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after purchasing an additional 522 shares during the period. Finally, Quarry LP acquired a new position in Soleno Therapeutics in the 1st quarter worth about $121,000. Institutional investors and hedge funds 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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