Cantor Fitzgerald Forecasts Strong Price Appreciation for Soleno Therapeutics (NASDAQ:SLNO) Stock

Soleno Therapeutics (NASDAQ:SLNO - Free Report) had its price objective boosted by Cantor Fitzgerald from $67.00 to $123.00 in a research note released on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other research analysts have also weighed in on SLNO. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Stifel Nicolaus began coverage on shares of Soleno Therapeutics in a research report on Wednesday, March 5th. They set a "buy" rating and a $74.00 price objective on the stock. Lifesci Capital raised shares of Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird raised their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $98.86.

Soleno Therapeutics Price Performance

NASDAQ SLNO traded down $0.45 on Thursday, hitting $71.54. 1,576,664 shares of the company were exchanged, compared to its average volume of 640,149. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $73.97. The company's 50 day moving average price is $48.94 and its 200-day moving average price is $50.08. The firm has a market capitalization of $3.28 billion, a P/E ratio of -21.47 and a beta of -1.70.

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Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). As a group, equities analysts expect that Soleno Therapeutics will post -3.72 EPS for the current year.

Insider Activity at Soleno Therapeutics

In related news, insider Kristen Yen sold 2,340 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the sale, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock worth $790,119 over the last 90 days. Insiders own 12.30% of the company's stock.

Institutional Trading of Soleno Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SLNO. Janus Henderson Group PLC grew its stake in shares of Soleno Therapeutics by 27.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company's stock valued at $233,130,000 after buying an additional 1,107,166 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in Soleno Therapeutics by 20.1% in the fourth quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company's stock valued at $176,607,000 after acquiring an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC lifted its stake in Soleno Therapeutics by 15.8% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company's stock valued at $113,499,000 after acquiring an additional 344,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company's stock worth $84,710,000 after purchasing an additional 303,806 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company's stock valued at $73,301,000 after purchasing an additional 321,223 shares during the period. Institutional investors and hedge funds own 97.42% of the company's stock.

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.