Soleno Therapeutics’ (SLNO) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report released on Friday, Benzinga reports. The firm currently has a $67.00 target price on the stock.

A number of other brokerages also recently commented on SLNO. Oppenheimer upped their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an outperform rating in a research note on Monday, August 12th. HC Wainwright initiated coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a buy rating and a $70.00 price target for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $67.14.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $51.61 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of -19.26 and a beta of -1.46. The stock has a fifty day moving average price of $48.71 and a 200 day moving average price of $44.73. Soleno Therapeutics has a 12 month low of $3.96 and a 12 month high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. As a group, research analysts anticipate that Soleno Therapeutics will post -2.28 earnings per share for the current year.

Insider Activity

In other news, insider Kristen Yen sold 2,170 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now owns 21,252 shares in the company, valued at $882,808.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO James H. Mackaness sold 6,661 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $316,930.38. Following the completion of the sale, the chief financial officer now owns 134,119 shares in the company, valued at $6,381,382.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kristen Yen sold 2,170 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now owns 21,252 shares of the company’s stock, valued at approximately $882,808.08. The disclosure for this sale can be found here. Insiders sold a total of 767,239 shares of company stock worth $36,744,548 over the last 90 days. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Soleno Therapeutics

Several institutional investors have recently modified their holdings of SLNO. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics in the 2nd quarter valued at $31,000. Victory Capital Management Inc. boosted its position in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock valued at $438,000 after purchasing an additional 2,236 shares during the period. Cannon Global Investment Management LLC acquired a new position in shares of Soleno Therapeutics in the 1st quarter valued at $505,000. Sei Investments Co. boosted its position in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after purchasing an additional 2,264 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after purchasing an additional 3,481 shares during the period. Institutional investors and hedge funds 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.