Soleno Therapeutics’ (SLNO) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a $67.00 price target on the stock.

SLNO has been the topic of several other research reports. Oppenheimer boosted their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an outperform rating in a research note on Monday, August 12th. HC Wainwright initiated coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They issued a buy rating and a $70.00 target price on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of Buy and a consensus target price of $67.14.

Soleno Therapeutics Stock Performance

Shares of NASDAQ:SLNO opened at $48.14 on Friday. The business’s 50-day simple moving average is $48.67 and its 200 day simple moving average is $44.76. The company has a market cap of $1.61 billion, a P/E ratio of -17.96 and a beta of -1.46. Soleno Therapeutics has a one year low of $4.11 and a one year high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.06. Analysts predict that Soleno Therapeutics will post -2.28 earnings per share for the current year.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of Soleno Therapeutics stock in a transaction on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $298,672.60. Following the completion of the transaction, the chief financial officer now owns 55,763 shares of the company’s stock, valued at $2,316,395.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $298,672.60. Following the transaction, the chief financial officer now owns 55,763 shares of the company’s stock, valued at $2,316,395.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen Yen sold 2,170 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the sale, the insider now owns 21,252 shares in the company, valued at $882,808.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 767,239 shares of company stock worth $36,744,548. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently modified their holdings of SLNO. Nantahala Capital Management LLC boosted its stake in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after purchasing an additional 671,728 shares during the period. Perceptive Advisors LLC boosted its position in shares of Soleno Therapeutics by 4.2% during the second 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 period. Driehaus Capital Management LLC bought a new position in Soleno Therapeutics in the 2nd quarter worth approximately $5,920,000. The Manufacturers Life Insurance Company increased its position in Soleno Therapeutics by 120.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,408 shares of the company’s stock valued at $2,016,000 after acquiring an additional 27,020 shares during the period. Finally, Samlyn Capital LLC raised its stake in Soleno Therapeutics by 128.9% during the 2nd quarter. Samlyn Capital LLC now owns 501,049 shares of the company’s stock valued at $20,443,000 after acquiring an additional 282,122 shares in the last quarter. 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.