HC Wainwright Begins Coverage on Soleno Therapeutics (NASDAQ:SLNO)

Analysts at HC Wainwright assumed coverage on shares of Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) in a report released on Tuesday, MarketBeat reports. The firm set a "buy" rating and a $70.00 price target on the stock. HC Wainwright's price target points to a potential upside of 48.09% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Baird R W upgraded Soleno Therapeutics to a "strong-buy" rating in a report on Friday, May 10th. Oppenheimer lifted their target price on Soleno Therapeutics from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Monday, August 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a research report on Wednesday, July 31st. Finally, Robert W. Baird assumed coverage on shares of Soleno Therapeutics in a report on Friday, May 10th. They issued an "outperform" rating and a $72.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Soleno Therapeutics has an average rating of "Buy" and a consensus price target of $67.14.

Soleno Therapeutics Stock Down 3.4 %

SLNO stock traded down $1.68 during mid-day trading on Tuesday, hitting $47.27. 442,425 shares of the company were exchanged, compared to its average volume of 423,587. The business has a fifty day simple moving average of $46.31 and a 200-day simple moving average of $44.54. The firm has a market capitalization of $1.58 billion, a P/E ratio of -17.64 and a beta of -1.39. Soleno Therapeutics has a 12-month low of $3.69 and a 12-month high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share for the quarter, topping analysts' consensus estimates of ($0.63) by $0.06. Research analysts predict that Soleno Therapeutics will post -2.27 EPS for the current year.

Insider Activity at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,170 shares of the 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 sale, the insider now directly owns 21,252 shares of the company's stock, valued at approximately $882,808.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 19,256 shares of Soleno Therapeutics stock in a transaction dated Monday, July 1st. The stock was 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 directly owns 133,534 shares of the company's stock, valued at approximately $5,547,002.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kristen Yen sold 2,170 shares of the company's stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the transaction, the insider now directly owns 21,252 shares of the company's stock, valued at $882,808.08. The disclosure for this sale can be found here. Insiders have sold a total of 767,239 shares of company stock valued at $36,744,548 over the last 90 days. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank purchased a new position in Soleno Therapeutics in the second quarter valued at approximately $31,000. Victory Capital Management Inc. grew its position in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock valued at $438,000 after buying an additional 2,236 shares during the last quarter. Cannon Global Investment Management LLC acquired a new stake in Soleno Therapeutics during the 1st quarter worth $505,000. Sei Investments Co. lifted its position in Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company's stock valued at $538,000 after acquiring an additional 2,264 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Soleno Therapeutics in the second quarter valued at $569,000. Hedge funds and other institutional investors 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.