Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $67.14 Average Price Target from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has received a consensus rating of "Buy" from the eight ratings firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $67.14.

Several analysts have recently weighed in on SLNO shares. HC Wainwright assumed coverage on shares of Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $70.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and set a $67.00 target price on shares of Soleno Therapeutics in a report on Wednesday, July 31st. Finally, 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.

Soleno Therapeutics Price Performance

SLNO traded up $1.03 on Thursday, reaching $49.61. 336,917 shares of the company's stock were exchanged, compared to its average volume of 419,518. The stock has a market cap of $1.66 billion, a PE ratio of -18.51 and a beta of -1.46. Soleno Therapeutics has a twelve month low of $3.91 and a twelve month high of $53.82. The stock's fifty day moving average price is $47.60 and its 200-day moving average price is $44.63.

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

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,170 shares of the firm'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 transaction of $90,141.80. Following the sale, the insider now owns 21,252 shares of the company's stock, valued at $882,808.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO James H. Mackaness sold 6,661 shares of the company's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $316,930.38. Following the completion of the sale, the chief financial officer now directly owns 134,119 shares of the company's stock, valued at approximately $6,381,382.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction, the insider now owns 21,252 shares in the company, valued at $882,808.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 767,239 shares of company stock valued at $36,744,548. Corporate insiders own 12.30% of the company's stock.

Institutional Trading of Soleno Therapeutics

Several hedge funds have recently made changes to their positions in the company. Vestal Point Capital LP acquired a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $52,325,000. Carlyle Group Inc. lifted 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 worth $173,123,000 after buying an additional 1,213,758 shares during the period. Avoro Capital Advisors LLC boosted its position in shares of Soleno Therapeutics by 107.0% in the first quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company's stock worth $69,550,000 after acquiring an additional 840,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Soleno Therapeutics during the second quarter worth approximately $29,778,000. Finally, Nantahala Capital Management LLC boosted its holdings in Soleno Therapeutics by 27.9% in the second 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. 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.