HC Wainwright Reiterates Buy Rating for Soleno Therapeutics (NASDAQ:SLNO)

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $70.00 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 17.51% from the stock's current price.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reissued an "overweight" rating and set a $67.00 price target on shares of Soleno Therapeutics in a report on Friday, September 20th. Oppenheimer upped their price target 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. Finally, Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Soleno Therapeutics has an average rating of "Buy" and a consensus price target of $69.86.

Soleno Therapeutics Price Performance

Shares of NASDAQ SLNO traded up $2.52 during midday trading on Monday, hitting $59.57. 385,356 shares of the stock traded hands, compared to its average volume of 466,714. Soleno Therapeutics has a one year low of $21.39 and a one year high of $59.75. The firm has a 50-day moving average of $52.07 and a two-hundred day moving average of $47.55.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($0.61) by ($1.22). On average, equities analysts predict that Soleno Therapeutics will post -3.06 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of Soleno Therapeutics stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $47.22, for a total value of $4,722,000.00. Following the completion of the transaction, the insider now owns 6,291,851 shares in the company, valued at approximately $297,101,204.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO James H. Mackaness sold 6,661 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the company's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $47.22, for a total transaction of $4,722,000.00. Following the completion of the transaction, the insider now owns 6,291,851 shares in the company, valued at $297,101,204.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 701,362 shares of company stock worth $33,970,517 over the last 90 days. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Large investors have recently modified their holdings of the business. Perceptive Advisors LLC grew its position in shares of Soleno Therapeutics by 4.2% in the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company's stock worth $130,763,000 after buying an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Soleno Therapeutics by 27.9% during the second quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company's stock worth $125,750,000 after purchasing an additional 671,728 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Soleno Therapeutics by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company's stock valued at $122,698,000 after purchasing an additional 346,914 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of Soleno Therapeutics by 28.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company's stock valued at $85,340,000 after purchasing an additional 466,666 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Soleno Therapeutics in the 2nd quarter worth $29,778,000. 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.