Soleno Therapeutics’ (SLNO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a report published on Monday,Benzinga reports. The brokerage currently has a $70.00 price objective on the stock.

SLNO has been the subject of several other research reports. Robert W. Baird reissued an “outperform” rating and issued a $72.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $71.20.

Soleno Therapeutics Price Performance

SLNO opened at $44.99 on Monday. The business has a 50 day simple moving average of $47.20 and a two-hundred day simple moving average of $49.86. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -13.55 and a beta of -1.46. Soleno Therapeutics has a one year low of $36.61 and a one year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results 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). As a group, sell-side analysts expect that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the 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 transaction, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen Yen sold 2,340 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total value of $108,061.20. Following the transaction, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,360 shares of company stock worth $790,119. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SLNO. AlphaQuest LLC lifted its holdings in shares of Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after buying an additional 658 shares during the period. US Bancorp DE bought a new position in Soleno Therapeutics in the 4th quarter worth $34,000. Avanza Fonder AB bought a new position in Soleno Therapeutics in the 4th quarter worth $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in Soleno Therapeutics in the 4th quarter worth $81,000. Finally, Avior Wealth Management LLC bought a new position in Soleno Therapeutics in the 4th quarter worth $89,000. 97.42% of the stock is 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.