Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Get Free Report) reached a new 52-week high on Thursday after HC Wainwright raised their price target on the stock from $70.00 to $100.00. HC Wainwright currently has a buy rating on the stock. Soleno Therapeutics traded as high as $70.20 and last traded at $67.31, with a volume of 2375198 shares. The stock had previously closed at $48.97.
Other equities research analysts have also issued research reports about the stock. Laidlaw boosted their price target on shares of Soleno Therapeutics from $75.00 to $105.00 and gave the company a "buy" rating in a report on Thursday. Stifel Nicolaus upped their target price on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird raised their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an "outperform" rating in a research note on Thursday. Cantor Fitzgerald lifted their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Guggenheim reissued a "buy" rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a report on Friday. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $98.86.
Read Our Latest Stock Analysis on SLNO
Insider Transactions at Soleno Therapeutics
In related news, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the completion of the transaction, the insider now owns 76,605 shares of the company's stock, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,360 shares of company stock valued at $790,119. Corporate insiders own 12.30% of the company's stock.
Institutional Investors Weigh In On Soleno Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. Corebridge Financial Inc. raised 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 worth $572,000 after acquiring an additional 357 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of 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 purchasing an additional 522 shares in the last quarter. AlphaQuest LLC raised its position in Soleno Therapeutics by 1,154.4% in the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE acquired a new position in Soleno Therapeutics during the 4th quarter worth $34,000. Finally, Alliancebernstein L.P. boosted its position in 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 buying an additional 800 shares during the last quarter. Institutional investors own 97.42% of the company's stock.
Soleno Therapeutics Trading Down 0.6 %
The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -21.47 and a beta of -1.70. The company has a 50 day moving average price of $48.94 and a 200 day moving average price of $50.08.
Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Equities analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.
Soleno Therapeutics Company Profile
(
Get Free Report)
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.
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