Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Average Rating of “Buy” by Brokerages

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $60.33.

A number of equities research analysts have recently weighed in on the company. Robert W. Baird assumed coverage on Soleno Therapeutics in a research note on Friday, May 10th. They set an “outperform” rating and a $72.00 price target on the stock. Baird R W raised shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Finally, Oppenheimer decreased their price target on shares of Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, May 13th.

Insider Activity

In related news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the transaction, the insider now directly owns 7,668,093 shares in the company, valued at $366,534,845.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Kristen Yen sold 2,170 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $90,141.80. Following the sale, the insider now owns 21,252 shares of the company’s stock, valued at approximately $882,808.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the transaction, the insider now owns 7,668,093 shares of the company’s stock, valued at $366,534,845.40. The disclosure for this sale can be found here. Insiders have sold 778,616 shares of company stock valued at $37,038,709 in the last ninety days. Insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank purchased a new stake in shares of Soleno Therapeutics during the 4th quarter worth about $918,000. Wellington Management Group LLP purchased a new position in Soleno Therapeutics during the fourth quarter worth approximately $8,557,000. Vivo Capital LLC grew its holdings in Soleno Therapeutics by 162.8% in the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after purchasing an additional 5,215,000 shares during the period. Carlyle Group Inc. increased its position in shares of Soleno Therapeutics by 24.6% in the fourth quarter. Carlyle Group Inc. now owns 2,857,804 shares of the company’s stock valued at $115,039,000 after buying an additional 564,242 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Soleno Therapeutics during the 3rd quarter worth approximately $1,365,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Stock Up 5.8 %

Shares of SLNO opened at $42.03 on Friday. The company has a 50 day moving average of $43.34 and a two-hundred day moving average of $43.31. Soleno Therapeutics has a twelve month low of $3.69 and a twelve month high of $53.82. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -15.68 and a beta of -1.39.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). On average, sell-side analysts expect that Soleno Therapeutics will post -2.36 EPS for the current year.

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.