Soleno Therapeutics (NASDAQ:SLNO) Stock Rating Upgraded by Lifesci Capital

Soleno Therapeutics (NASDAQ:SLNO) was upgraded by investment analysts at Lifesci Capital to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Oppenheimer increased their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Soleno Therapeutics presently has a consensus rating of “Buy” and an average target price of $74.83.

Soleno Therapeutics Stock Up 2.6 %

Shares of SLNO opened at $49.78 on Tuesday. The business’s 50-day moving average price is $47.59 and its 200-day moving average price is $49.79. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $60.92. The stock has a market cap of $2.15 billion, a PE ratio of -14.99 and a beta of -1.46.

Soleno Therapeutics (NASDAQ:SLNO) last posted its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now owns 76,605 shares of the company’s stock, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLNO. FMR LLC increased its stake in shares of Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock valued at $33,595,000 after buying an additional 665,363 shares during the period. Barclays PLC increased its position in Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after purchasing an additional 31,467 shares during the period. State Street Corp raised its holdings in Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after purchasing an additional 142,033 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Soleno Therapeutics by 10.8% in the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after purchasing an additional 57,913 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Soleno Therapeutics by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after purchasing an additional 51,189 shares in the last quarter. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

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.