Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Average Recommendation of "Buy" from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has been given an average recommendation of "Buy" by the seven research firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $71.20.

SLNO has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and issued a $70.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Robert W. Baird restated an "outperform" rating and set a $72.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Oppenheimer lifted their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Stifel Nicolaus reiterated a "buy" rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research report on Tuesday, February 4th.

Soleno Therapeutics Stock Up 1.7 %

Shares of SLNO traded up $0.85 on Friday, reaching $50.25. The stock had a trading volume of 263,331 shares, compared to its average volume of 424,190. The firm has a 50-day moving average of $47.15 and a 200 day moving average of $49.91. The firm has a market capitalization of $2.17 billion, a PE ratio of -15.14 and a beta of -1.46. Soleno Therapeutics has a twelve month low of $36.61 and a twelve month high of $60.92.

Insider Transactions at Soleno Therapeutics

In related news, CFO James H. Mackaness sold 4,083 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the sale, the chief financial officer now directly owns 115,089 shares of the company's stock, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 10,937 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 of the company's stock, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,360 shares of company stock worth $790,119 over the last ninety days. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Large investors have recently bought and sold shares of the stock. Corebridge Financial Inc. grew its holdings in shares of Soleno Therapeutics by 2.9% during the 4th quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock worth $572,000 after purchasing an additional 357 shares during the period. AlphaQuest LLC lifted its position in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company's stock valued at $32,000 after buying an additional 658 shares in the last quarter. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics in the fourth quarter worth $34,000. Alliancebernstein L.P. raised its stake in shares of Soleno Therapeutics by 3.5% in the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company's stock valued at $1,070,000 after acquiring an additional 800 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Soleno Therapeutics by 13.2% in the 4th quarter. New York State Common Retirement Fund now owns 7,717 shares of the company's stock valued at $347,000 after acquiring an additional 900 shares during the period. 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.