Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Recommendation of “Buy” by Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $69.86.

A number of equities research analysts recently issued reports on the stock. HC Wainwright assumed coverage on shares of Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a “buy” rating and a $70.00 target price for the company. Oppenheimer boosted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a report on Friday, September 20th. Finally, Stifel Nicolaus boosted their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a report on Tuesday, October 1st.

Insider Transactions at Soleno Therapeutics

In other news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total value of $24,365,000.00. Following the completion of the sale, the insider now owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Bhatnagar Anish sold 58,213 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $45.77, for a total value of $2,664,409.01. Following the completion of the transaction, the chief executive officer now directly owns 925,321 shares in the company, valued at approximately $42,351,942.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the completion of the transaction, the insider now owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 771,441 shares of company stock valued at $37,178,033 over the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Carlyle Group Inc. boosted its stake 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 during the period. Perceptive Advisors LLC boosted its stake in Soleno Therapeutics by 4.2% during the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock valued at $130,763,000 after acquiring an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after acquiring an additional 671,728 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Soleno Therapeutics by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after acquiring an additional 346,914 shares during the last quarter. Finally, Avoro Capital Advisors LLC boosted its stake in Soleno Therapeutics by 28.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after acquiring an additional 466,666 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO opened at $55.06 on Friday. The company has a market cap of $1.84 billion, a PE ratio of -20.54 and a beta of -1.45. Soleno Therapeutics has a 12 month low of $21.30 and a 12 month high of $57.28. The company has a 50-day simple moving average of $50.94 and a 200-day simple moving average of $46.66.

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

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.