Soleno Therapeutics (NASDAQ:SLNO) Issues Quarterly Earnings Results, Misses Expectations By $0.41 EPS

Soleno Therapeutics (NASDAQ:SLNO) posted its quarterly earnings data on Wednesday. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41), Zacks reports.

Soleno Therapeutics Price Performance

SLNO stock opened at $44.99 on Thursday. Soleno Therapeutics has a 1 year low of $36.61 and a 1 year high of $60.92. The firm has a market capitalization of $1.94 billion, a PE ratio of -13.55 and a beta of -1.46. The business has a 50 day simple moving average of $47.20 and a 200-day simple moving average of $49.86.

Insider Buying and Selling

In related news, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the sale, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics 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 transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SLNO has been the subject of several research analyst reports. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research report on Wednesday. They set a “buy” rating and a $74.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday. Robert W. Baird reaffirmed an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $71.20.

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.