Analysts Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) PT at $94.57

Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) has been assigned an average rating of "Buy" from the nine brokerages that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $99.63.

Several research analysts have weighed in on SLNO shares. Guggenheim reiterated a "buy" rating and issued a $81.00 price target (up from $70.00) on shares of Soleno Therapeutics in a report on Friday, March 28th. Lifesci Capital upgraded Soleno Therapeutics to a "strong-buy" rating in a research note on Tuesday, February 4th. HC Wainwright raised their price target on Soleno Therapeutics from $70.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday. Robert W. Baird lifted their price target on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a report on Thursday, March 27th. Finally, Stifel Nicolaus increased their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 28th.

Soleno Therapeutics Stock Performance

SLNO stock traded down $1.51 during trading on Monday, hitting $72.16. The stock had a trading volume of 1,178,033 shares, compared to its average volume of 666,433. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -21.73 and a beta of -2.29. The company's 50 day moving average price is $50.80 and its two-hundred day moving average price is $50.65. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.41). As a group, sell-side analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Activity

In other Soleno Therapeutics news, VP Michael F. Huang sold 14,583 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $69.51, for a total transaction of $1,013,664.33. Following the transaction, the vice president now directly owns 36,817 shares of the company's stock, valued at $2,559,149.67. The trade was a 28.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares of the company's stock, valued at $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 945,012 shares of company stock valued at $64,166,842 in the last three months. 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 modified their holdings of the stock. Corebridge Financial Inc. grew its stake in shares of Soleno Therapeutics by 2.9% in the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company's stock valued at $572,000 after buying an additional 357 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Soleno Therapeutics by 24.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after acquiring an additional 522 shares in the last quarter. AlphaQuest LLC raised its stake in shares of 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 purchasing an additional 658 shares during the period. US Bancorp DE acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth $34,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Soleno Therapeutics by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company's stock valued at $1,070,000 after purchasing an additional 800 shares during the period. 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.