Soleno Therapeutics (NASDAQ:SLNO) Trading Up 4.1% – Should You Buy?

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) were up 4.1% on Thursday . The stock traded as high as $48.97 and last traded at $48.61. Approximately 299,985 shares were traded during trading, a decline of 36% from the average daily volume of 470,735 shares. The stock had previously closed at $46.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLNO shares. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, March 3rd. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus initiated coverage on Soleno Therapeutics in a report on Wednesday, March 5th. They set a “buy” rating and a $74.00 target price on the stock. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics presently has an average rating of “Buy” and a consensus target price of $71.20.

Soleno Therapeutics Stock Up 0.6 %

The firm has a 50 day simple moving average of $47.28 and a 200-day simple moving average of $49.72. The stock has a market cap of $2.26 billion, a P/E ratio of -14.86 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data 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). On average, equities analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares of the company’s stock, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James H. Mackaness sold 4,083 shares of the company’s stock in a transaction that occurred 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 directly owns 115,089 shares in the company, valued at $5,226,191.49. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock worth $790,119 over the last 90 days. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. AlphaQuest LLC grew its position in shares of Soleno Therapeutics by 1,154.4% in the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $34,000. Avanza Fonder AB acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $76,000. Springhill Fund Asset Management HK Co Ltd acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $81,000. Finally, Avior Wealth Management LLC acquired a new stake in Soleno Therapeutics during the fourth quarter worth approximately $89,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.