Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Rating of “Buy” by Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $71.20.

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They issued a “buy” rating and a $74.00 price target on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd.

Soleno Therapeutics Stock Down 2.5 %

NASDAQ SLNO opened at $43.68 on Thursday. 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 $2.00 billion, a P/E ratio of -13.16 and a beta of -1.70. The company’s 50-day simple moving average is $47.12 and its 200 day simple moving average is $49.72.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Research analysts anticipate that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In related news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares of the company’s stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,360 shares of company stock worth $790,119. Insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

A number of hedge funds have recently modified their holdings of SLNO. Polar Asset Management Partners Inc. grew its holdings in Soleno Therapeutics by 296.8% during the fourth quarter. Polar Asset Management Partners Inc. now owns 125,400 shares of the company’s stock valued at $5,637,000 after purchasing an additional 93,800 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Soleno Therapeutics in the 4th quarter valued at $13,451,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Soleno Therapeutics by 24.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,504 shares of the company’s stock valued at $1,236,000 after buying an additional 5,462 shares in the last quarter. Union Square Park Capital Management LLC acquired a new stake in Soleno Therapeutics during the 4th quarter worth $2,248,000. Finally, Vestal Point Capital LP raised its stake in Soleno Therapeutics by 47.2% during the 4th quarter. Vestal Point Capital LP now owns 1,060,000 shares of the company’s stock worth $47,647,000 after buying an additional 340,000 shares during the period. 97.42% of the stock is currently owned by institutional investors and hedge funds.

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.