Soleno Therapeutics (NASDAQ:SLNO) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report released on Wednesday morning, Marketbeat reports. The firm issued a buy rating and a $74.00 target price on the stock.

Several other research analysts also recently commented on SLNO. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Soleno Therapeutics in a report on Monday. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $71.20.

Soleno Therapeutics Trading Up 1.2 %

SLNO opened at $44.99 on Wednesday. The company has a market cap of $1.94 billion, a P/E ratio of -13.55 and a beta of -1.46. The business’s 50-day moving average price is $47.20 and its 200-day moving average price is $49.86. Soleno Therapeutics has a 12 month low of $36.61 and a 12 month high of $60.92.

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

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics 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 transaction of $496,649.17. Following the transaction, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the transaction, the insider now owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,360 shares of company stock valued at $790,119 in the last 90 days. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Soleno Therapeutics by 27.1% during the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock worth $233,130,000 after acquiring an additional 1,107,166 shares during the period. Nantahala Capital Management LLC grew its holdings in shares of Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC grew its holdings in shares of Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after acquiring an additional 344,000 shares during the period. Vanguard Group Inc. grew its holdings in shares of Soleno Therapeutics by 19.2% during the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock worth $84,710,000 after acquiring an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after buying an additional 321,223 shares during the last quarter. Hedge funds and other 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.