Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $56.85, but opened at $64.55. Soleno Therapeutics shares last traded at $63.75, with a volume of 1,590,198 shares.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Guggenheim reiterated a "buy" rating and issued a $106.00 target price on shares of Soleno Therapeutics in a research note on Wednesday, August 27th. Wall Street Zen upgraded Soleno Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Robert W. Baird set a $121.00 target price on Soleno Therapeutics and gave the stock an "outperform" rating in a research report on Friday, July 11th. TD Cowen initiated coverage on Soleno Therapeutics in a report on Monday, June 23rd. They set a "buy" rating and a $110.00 price target for the company. Finally, Oppenheimer raised their price target on Soleno Therapeutics from $105.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and eleven have given a Buy rating to the company. Based on data from MarketBeat.com, Soleno Therapeutics has an average rating of "Buy" and a consensus target price of $115.09.
Read Our Latest Analysis on Soleno Therapeutics
Soleno Therapeutics Stock Performance
The company has a debt-to-equity ratio of 0.21, a quick ratio of 15.01 and a current ratio of 15.13. The stock has a fifty day simple moving average of $72.84 and a two-hundred day simple moving average of $72.22. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -15.67 and a beta of -2.72.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.44. The firm had revenue of $32.66 million during the quarter, compared to analyst estimates of $3.91 million. Analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Patricia C. Hirano sold 3,830 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $82.76, for a total transaction of $316,970.80. Following the completion of the sale, the insider owned 13,206 shares in the company, valued at $1,092,928.56. This trade represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Optimize Financial Inc purchased a new stake in Soleno Therapeutics during the first quarter valued at about $274,000. Scientech Research LLC increased its position in shares of Soleno Therapeutics by 120.5% during the first quarter. Scientech Research LLC now owns 11,620 shares of the company's stock valued at $830,000 after acquiring an additional 6,351 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Soleno Therapeutics by 4,377.3% in the first quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock worth $240,000 after purchasing an additional 3,283 shares during the last quarter. Woodline Partners LP boosted its holdings in Soleno Therapeutics by 16.0% in the first quarter. Woodline Partners LP now owns 349,664 shares of the company's stock worth $24,983,000 after purchasing an additional 48,102 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Soleno Therapeutics during the 1st quarter worth $232,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
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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