Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) PT at $71.20

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have earned an average recommendation of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $71.20.

Several research analysts have recently issued reports on SLNO shares. Oppenheimer raised their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Robert W. Baird reissued an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th.

Soleno Therapeutics Stock Down 4.2 %

Soleno Therapeutics stock opened at $49.17 on Friday. The business’s 50-day simple moving average is $47.18 and its 200 day simple moving average is $49.96. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -14.81 and a beta of -1.46. Soleno Therapeutics has a 12-month low of $36.61 and a 12-month high of $60.92.

Insider Buying and Selling

In other news, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the sale, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Soleno Therapeutics

A number of large investors have recently added to or reduced their stakes in SLNO. Corebridge Financial Inc. boosted its position in shares of Soleno Therapeutics by 2.9% during the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock worth $572,000 after buying an additional 357 shares during the period. Ameritas Investment Partners Inc. lifted its stake in Soleno Therapeutics by 24.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 2,677 shares of the company’s stock valued at $120,000 after acquiring an additional 522 shares in the last quarter. AlphaQuest LLC boosted its position in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after acquiring an additional 658 shares during the last quarter. US Bancorp DE bought a new position in shares of Soleno Therapeutics during the 4th quarter worth approximately $34,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Soleno Therapeutics by 3.5% in the fourth quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock valued at $1,070,000 after purchasing an additional 800 shares during the last quarter. Institutional investors 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.