Soleno Therapeutics (NASDAQ:SLNO) PT Raised to $73.00

Soleno Therapeutics (NASDAQ:SLNO) had its price target increased by Oppenheimer from $65.00 to $73.00 in a report published on Monday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other brokerages have also commented on SLNO. HC Wainwright initiated coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price objective for the company. Stifel Nicolaus raised their price objective on Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $69.86.

Soleno Therapeutics Stock Up 0.7 %

Shares of SLNO stock opened at $55.31 on Monday. The stock has a fifty day moving average of $50.63 and a 200 day moving average of $46.40. Soleno Therapeutics has a 52 week low of $21.30 and a 52 week high of $57.28. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -20.64 and a beta of -1.45.

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

Insider Transactions at Soleno Therapeutics

In other news, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the transaction, the insider now owns 81,465 shares of the company’s stock, valued at $4,026,814.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Bhatnagar Anish sold 58,213 shares of Soleno Therapeutics stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $45.77, for a total value of $2,664,409.01. Following the completion of the sale, the chief executive officer now directly owns 925,321 shares in the company, valued at approximately $42,351,942.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen Yen sold 3,108 shares of Soleno Therapeutics stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $49.43, for a total value of $153,628.44. Following the completion of the sale, the insider now owns 81,465 shares of the company’s stock, valued at $4,026,814.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 771,441 shares of company stock valued at $37,178,033 in the last quarter. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in Soleno Therapeutics by 5.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 141,424 shares of the company’s stock worth $7,140,000 after buying an additional 7,840 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after buying an additional 671,728 shares in the last quarter. Perceptive Advisors LLC increased its holdings in 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 in the last quarter. Driehaus Capital Management LLC bought a new stake in Soleno Therapeutics in the 2nd quarter worth about $5,920,000. Finally, The Manufacturers Life Insurance Company increased its holdings 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 worth $2,016,000 after buying an additional 27,020 shares in the last quarter. 97.42% of the stock is currently owned by institutional investors.

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.