Soleno Therapeutics, Inc. (NASDAQ:SLNO) Expected to Earn Q3 2024 Earnings of ($0.56) Per Share

Soleno Therapeutics, Inc. (NASDAQ:SLNO) – Investment analysts at HC Wainwright issued their Q3 2024 EPS estimates for Soleno Therapeutics in a research report issued on Tuesday, September 3rd. HC Wainwright analyst R. Selvaraju forecasts that the company will post earnings of ($0.56) per share for the quarter. HC Wainwright has a “Buy” rating and a $70.00 price objective on the stock. The consensus estimate for Soleno Therapeutics’ current full-year earnings is ($2.27) per share. HC Wainwright also issued estimates for Soleno Therapeutics’ Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($2.33) EPS, Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.53) EPS and FY2025 earnings at ($2.32) EPS.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06.

A number of other research analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Soleno Therapeutics in a research note on Wednesday, July 31st. Oppenheimer boosted their price target on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $67.14.

Soleno Therapeutics Stock Performance

NASDAQ SLNO opened at $48.54 on Friday. Soleno Therapeutics has a one year low of $3.69 and a one year high of $53.82. The firm’s fifty day moving average is $47.00 and its two-hundred day moving average is $44.59. The firm has a market cap of $1.62 billion, a PE ratio of -18.11 and a beta of -1.39.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Carlyle Group Inc. lifted its holdings in shares of Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after purchasing an additional 1,213,758 shares in the last quarter. Perceptive Advisors LLC lifted its stake in shares of Soleno Therapeutics by 4.2% during the second quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock valued at $130,763,000 after buying an additional 130,434 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after buying an additional 671,728 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Soleno Therapeutics by 13.7% during the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after buying an additional 346,914 shares during the period. Finally, Avoro Capital Advisors LLC lifted its stake in shares of Soleno Therapeutics by 28.7% during the second quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after buying an additional 466,666 shares during the period. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Insiders Place Their Bets

In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $298,672.60. Following the transaction, the chief financial officer now directly owns 55,763 shares in the company, valued at $2,316,395.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 19,256 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $799,894.24. Following the sale, the chief executive officer now owns 133,534 shares of the company’s stock, valued at $5,547,002.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James H. Mackaness sold 7,190 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $298,672.60. Following the completion of the sale, the chief financial officer now directly owns 55,763 shares in the company, valued at approximately $2,316,395.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 767,239 shares of company stock worth $36,744,548. 12.30% of the stock is owned by company insiders.

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.