Soleno Therapeutics (NASDAQ:SLNO) Now Covered by Stifel Nicolaus

Analysts at Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report issued on Wednesday. The firm set a “buy” rating and a $74.00 price target on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 65.42% from the company’s current price.

SLNO has been the topic of several other research reports. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a research report on Monday. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average price target of $71.20.

Soleno Therapeutics Trading Up 0.7 %

NASDAQ SLNO traded up $0.30 on Wednesday, hitting $44.74. 19,828 shares of the company were exchanged, compared to its average volume of 443,524. The stock has a fifty day moving average of $47.19 and a 200-day moving average of $49.89. The company has a market cap of $1.93 billion, a PE ratio of -13.59 and a beta of -1.46. Soleno Therapeutics has a 12 month low of $36.61 and a 12 month high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). On average, analysts expect that Soleno Therapeutics will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO James H. Mackaness sold 4,083 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently modified their holdings of SLNO. FMR LLC grew its position in Soleno Therapeutics by 6,048,754.5% during the 3rd quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after purchasing an additional 665,363 shares during the last quarter. Barclays PLC grew its holdings in shares of Soleno Therapeutics by 149.3% during the third quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares during the last quarter. State Street Corp increased its position in shares of Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock valued at $57,668,000 after acquiring an additional 142,033 shares during the period. Holocene Advisors LP raised its stake in Soleno Therapeutics by 10.8% in the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock worth $30,009,000 after acquiring an additional 57,913 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Soleno Therapeutics by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after acquiring an additional 51,189 shares during the period. 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.