Zacks Investment Research Downgrades Soleno Therapeutics (NASDAQ:SLNO) to Hold

Soleno Therapeutics (NASDAQ:SLNO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Soleno Therapeutics Inc. is a healthcare company. It develops and commercializes diagnostics, devices and therapeutics addressing unmet medical needs. The Company offers products consists of CoSense end-tidal carbon monoxide Monitor, NeoPIP Infant Resuscitator and Accessories and Serenz Nasal Relief. Soleno Therapeutics Inc., formerly known as Capnia Inc., is based in Vancouver, Canada. “

A number of other research analysts also recently issued reports on SLNO. Oppenheimer assumed coverage on Soleno Therapeutics in a report on Monday, December 23rd. They set an “outperform” rating and a $10.00 price target on the stock. Craig Hallum assumed coverage on Soleno Therapeutics in a report on Friday, January 10th. They set a “buy” rating and a $8.00 price target on the stock. ValuEngine downgraded Soleno Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. Finally, Laidlaw assumed coverage on Soleno Therapeutics in a report on Monday, December 23rd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Soleno Therapeutics presently has an average rating of “Hold” and a consensus price target of $7.94.

Shares of NASDAQ:SLNO opened at $2.90 on Tuesday. Soleno Therapeutics has a 1 year low of $1.11 and a 1 year high of $5.07. The stock’s 50-day moving average is $3.15 and its 200 day moving average is $2.14.

In related news, major shareholder Vivo Ventures V, Llc sold 34,028 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $1.62, for a total transaction of $55,125.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. 26.56% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of SLNO. Lindbrook Capital LLC purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $32,000. Shikiar Asset Management Inc. grew its holdings in shares of Soleno Therapeutics by 10.1% during the 4th quarter. Shikiar Asset Management Inc. now owns 35,500 shares of the company’s stock worth $104,000 after acquiring an additional 3,250 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $134,000. Geode Capital Management LLC grew its holdings in shares of Soleno Therapeutics by 62.1% during the 4th quarter. Geode Capital Management LLC now owns 56,899 shares of the company’s stock worth $167,000 after acquiring an additional 21,802 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of Soleno Therapeutics by 86.0% during the 2nd quarter. BlackRock Inc. now owns 72,061 shares of the company’s stock worth $202,000 after acquiring an additional 33,319 shares during the period. Hedge funds and other institutional investors own 39.39% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is diazoxide choline controlled-release, a tablet that is in Phase III clinical trial for the treatment of Prader-Willi Syndrome. The company was formerly known as Capnia, Inc and changed its name to Soleno Therapeutics, Inc in May 2017.

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