Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $74.83 Average PT from Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $74.83.

Several research firms have weighed in on SLNO. Robert W. Baird reissued an "outperform" rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. HC Wainwright restated a "buy" rating and set a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Stifel Nicolaus reaffirmed a "buy" rating and issued a $74.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Oppenheimer increased their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday, October 28th.

Soleno Therapeutics Stock Performance

SLNO traded down $0.02 during mid-day trading on Friday, reaching $45.18. 1,282,833 shares of the stock were exchanged, compared to its average volume of 494,505. Soleno Therapeutics has a 1 year low of $35.70 and a 1 year high of $60.92. The stock has a market capitalization of $1.95 billion, a PE ratio of -13.61 and a beta of -1.47. The company has a 50 day moving average price of $52.93 and a two-hundred day moving average price of $49.08.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). Sell-side analysts expect that Soleno Therapeutics will post -3.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kristen Yen sold 3,108 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $153,628.44. Following the completion of the transaction, the insider now directly owns 81,465 shares in the company, valued at $4,026,814.95. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total value of $1,069,319.19. Following the sale, the chief executive officer now directly owns 719,553 shares of the company's stock, valued at $35,567,504.79. This represents a 2.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,818 shares of company stock valued at $1,622,194. Company insiders own 12.30% of the company's stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of large investors have recently added to or reduced their stakes in SLNO. Bank of New York Mellon Corp purchased a new stake in Soleno Therapeutics during the second quarter valued at about $3,623,000. Allspring Global Investments Holdings LLC boosted its position in Soleno Therapeutics by 28.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 133,584 shares of the company's stock valued at $5,450,000 after buying an additional 29,745 shares during the period. Rhumbline Advisers bought a new stake in Soleno Therapeutics in the 2nd quarter worth $1,189,000. TD Asset Management Inc increased its position in shares of Soleno Therapeutics by 174.0% in the second quarter. TD Asset Management Inc now owns 57,534 shares of the company's stock valued at $2,347,000 after acquiring an additional 36,534 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock valued at $438,000 after acquiring an additional 2,236 shares during the period. Hedge funds and other institutional investors 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.