Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $87.50 and last traded at $86.96, with a volume of 281816 shares trading hands. The stock had previously closed at $85.26.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating and a $110.00 price objective on the stock. Guggenheim upped their price objective on shares of Soleno Therapeutics from $81.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Piper Sandler upped 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. Cowen assumed coverage on shares of Soleno Therapeutics in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Finally, Laidlaw upped their price objective on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of "Buy" and an average price target of $107.10.
Read Our Latest Analysis on Soleno Therapeutics
Soleno Therapeutics Price Performance
The company has a quick ratio of 19.64, a current ratio of 19.64 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $4.43 billion, a P/E ratio of -18.98 and a beta of -2.63. The company's 50-day simple moving average is $78.33 and its 200 day simple moving average is $61.98.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.14) by $0.19. As a group, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.
Insider Transactions at Soleno Therapeutics
In related news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total value of $316,970.80. Following the transaction, the insider directly owned 13,206 shares in the company, valued at approximately $1,092,928.56. This trade represents a 22.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.40% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SLNO. Rhumbline Advisers boosted its holdings in Soleno Therapeutics by 5.9% in the 1st quarter. Rhumbline Advisers now owns 36,439 shares of the company's stock valued at $2,604,000 after purchasing an additional 2,044 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Soleno Therapeutics by 48.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company's stock worth $2,909,000 after acquiring an additional 13,211 shares during the period. Optimize Financial Inc bought a new position in shares of Soleno Therapeutics during the 1st quarter worth about $274,000. Woodline Partners LP lifted its holdings in shares of Soleno Therapeutics by 16.0% during the 1st quarter. Woodline Partners LP now owns 349,664 shares of the company's stock worth $24,983,000 after acquiring an additional 48,102 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in shares of Soleno Therapeutics by 172.8% during the 1st quarter. Fred Alger Management LLC now owns 40,394 shares of the company's stock worth $2,886,000 after acquiring an additional 25,589 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.
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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