Soleno Therapeutics, Inc. to Post Q3 2024 Earnings of ($0.56) Per Share, HC Wainwright Forecasts (NASDAQ:SLNO)

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) - Investment analysts at HC Wainwright issued their Q3 2024 EPS estimates for shares of Soleno Therapeutics in a report issued on Tuesday, September 3rd. HC Wainwright analyst R. Selvaraju anticipates 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 target 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.

Several other analysts have also issued reports on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Wednesday, July 31st. Baird R W upgraded shares of Soleno Therapeutics to a "strong-buy" rating in a research note on Friday, May 10th. Oppenheimer boosted their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an "outperform" rating in a research report on Monday, August 12th. Finally, Robert W. Baird began coverage on Soleno Therapeutics in a research note on Friday, May 10th. They set an "outperform" rating and a $72.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $67.14.

Soleno Therapeutics Stock Down 2.8 %

Shares of NASDAQ SLNO traded down $1.38 during trading hours on Friday, hitting $48.54. The company had a trading volume of 224,625 shares, compared to its average volume of 420,553. Soleno Therapeutics has a 1-year low of $3.69 and a 1-year high of $53.82. The firm's 50 day moving average is $46.84 and its 200-day moving average is $44.61. The stock has a market capitalization of $1.62 billion, a P/E ratio of -18.24 and a beta of -1.39.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.06.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $47.22, for a total value of $4,722,000.00. Following the completion of the sale, the insider now owns 6,291,851 shares of the company's stock, valued at approximately $297,101,204.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $47.22, for a total transaction of $4,722,000.00. Following the transaction, the insider now directly owns 6,291,851 shares of the company's stock, valued at $297,101,204.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen Yen sold 2,170 shares of the business's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now owns 21,252 shares of the company's stock, valued at $882,808.08. 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. Corporate insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLNO. Carlyle Group Inc. raised its position in Soleno Therapeutics by 42.5% during 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 raised its stake in Soleno Therapeutics by 4.2% during the second quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company's stock worth $130,763,000 after acquiring an additional 130,434 shares in the last quarter. Nantahala Capital Management LLC raised its stake in Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company's stock worth $125,750,000 after acquiring an additional 671,728 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Soleno Therapeutics by 13.7% in the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company's stock worth $122,698,000 after acquiring an additional 346,914 shares during the last quarter. Finally, Avoro Capital Advisors LLC boosted its stake in shares of Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company's stock valued at $85,340,000 after purchasing an additional 466,666 shares in the last quarter. 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.