Soleno Therapeutics (NASDAQ:SLNO) Rating Reiterated by Cantor Fitzgerald

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued on Friday, Benzinga reports. They currently have a $67.00 target price on the stock. Cantor Fitzgerald’s price target points to a potential upside of 30.12% from the stock’s previous close.

Several other brokerages also recently weighed in on SLNO. Oppenheimer upped their target price 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 shares of Soleno Therapeutics in a report on Tuesday, September 3rd. They issued 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics currently has an average rating of “Buy” and a consensus price target of $67.14.

Soleno Therapeutics Trading Down 2.4 %

SLNO traded down $1.24 on Friday, reaching $51.49. The stock had a trading volume of 245,024 shares, compared to its average volume of 421,229. The business’s 50-day moving average price is $48.63 and its two-hundred day moving average price is $44.72. The company has a market cap of $1.72 billion, a P/E ratio of -19.17 and a beta of -1.46. Soleno Therapeutics has a 12-month low of $3.96 and a 12-month high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.06. As a group, analysts predict that Soleno Therapeutics will post -2.28 earnings per share for the current year.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 19,256 shares of the firm’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 $799,894.24. Following the transaction, the chief executive officer now owns 133,534 shares in the company, valued at approximately $5,547,002.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction of $799,894.24. Following the completion of the sale, the chief executive officer now owns 133,534 shares of the company’s stock, valued at approximately $5,547,002.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kristen Yen sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total transaction of $90,141.80. Following the completion of the transaction, the insider now directly owns 21,252 shares in the company, valued at $882,808.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 767,239 shares of company stock worth $36,744,548. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLNO. Amalgamated Bank purchased a new position in shares of Soleno Therapeutics during the 2nd quarter worth $31,000. Victory Capital Management Inc. increased its position in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the last quarter. Cannon Global Investment Management LLC purchased a new position in Soleno Therapeutics during the first quarter worth about $505,000. Sei Investments Co. boosted its holdings in 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 last quarter. Finally, SG Americas Securities LLC acquired a new position in Soleno Therapeutics in the 2nd quarter valued at about $569,000. 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.