Soleno Therapeutics’ (SLNO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a report released on Monday,Benzinga reports. They currently have a $70.00 price target on the stock.

SLNO has been the topic of several other reports. Oppenheimer increased their target price on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 target price on shares of Soleno Therapeutics in a research report on Friday, September 20th. Finally, Stifel Nicolaus raised their price objective on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $69.86.

Soleno Therapeutics Stock Down 2.8 %

Shares of NASDAQ:SLNO opened at $55.68 on Monday. The company has a 50-day moving average price of $52.48 and a 200 day moving average price of $47.84. Soleno Therapeutics has a 52 week low of $21.75 and a 52 week high of $59.75. The company has a market cap of $2.40 billion, a P/E ratio of -16.88 and a beta of -1.44.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). Analysts expect that Soleno Therapeutics will post -3.76 EPS for the current year.

Insider Activity

In other news, insider Kristen Yen sold 3,108 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now owns 81,465 shares in the company, valued at approximately $4,026,814.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Kristen Yen sold 3,108 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $153,628.44. Following the sale, the insider now owns 81,465 shares of the company’s stock, valued at approximately $4,026,814.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 21,633 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $1,069,319.19. Following the completion of the transaction, the chief executive officer now directly owns 719,553 shares in the company, valued at $35,567,504.79. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 701,362 shares of company stock valued at $33,970,517 over the last 90 days. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. Price T Rowe Associates Inc. MD acquired a new stake in shares of Soleno Therapeutics in the 1st quarter valued at about $6,533,000. Sofinnova Investments Inc. increased its holdings in shares of Soleno Therapeutics by 267.7% in the second quarter. Sofinnova Investments Inc. now owns 554,359 shares of the company’s stock valued at $22,618,000 after purchasing an additional 403,584 shares during the last quarter. TD Asset Management Inc lifted its position in Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock worth $2,347,000 after acquiring an additional 36,534 shares during the last quarter. Samlyn Capital LLC increased its position in Soleno Therapeutics by 128.9% during the second quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock worth $20,443,000 after acquiring an additional 282,122 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of Soleno Therapeutics in the second quarter valued at approximately $3,623,000. Institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

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.