Soleno Therapeutics’ (SLNO) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $67.00 price objective on the stock.

SLNO has been the subject of a number of other reports. Baird R W raised shares of Soleno Therapeutics to a strong-buy rating in a research note on Friday, May 10th. Oppenheimer dropped their target price on Soleno Therapeutics from $65.00 to $59.00 and set an outperform rating on the stock in a research report on Monday, May 13th. Finally, Robert W. Baird initiated coverage on Soleno Therapeutics in a research note on Friday, May 10th. They issued an outperform rating and a $72.00 target price on the stock. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and an average target price of $65.67.

Soleno Therapeutics Stock Down 0.9 %

Shares of NASDAQ SLNO opened at $48.74 on Wednesday. Soleno Therapeutics has a 12-month low of $3.69 and a 12-month high of $53.82. The firm’s 50-day simple moving average is $44.26 and its 200 day simple moving average is $44.41. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -18.19 and a beta of -1.39.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.29). On average, equities analysts expect that Soleno Therapeutics will post -2.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Bhatnagar Anish sold 19,256 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $799,894.24. Following the completion of the sale, the chief executive officer now directly owns 133,534 shares in the company, valued at $5,547,002.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Soleno Therapeutics news, insider Kristen Yen sold 2,170 shares of Soleno Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $90,141.80. Following the completion of the sale, the insider now directly owns 21,252 shares in the company, valued at $882,808.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 19,256 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $799,894.24. Following the transaction, the chief executive officer now owns 133,534 shares in the company, valued at $5,547,002.36. The disclosure for this sale can be found here. Insiders have sold 28,616 shares of company stock valued at $1,188,709 in the last ninety days. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. TD Asset Management Inc grew its holdings in shares of Soleno Therapeutics by 174.0% during the second quarter. TD Asset Management Inc now owns 57,534 shares of the company’s stock valued at $2,347,000 after buying an additional 36,534 shares during the last quarter. Rhumbline Advisers acquired a new position in Soleno Therapeutics during the 2nd quarter valued at about $1,189,000. Allspring Global Investments Holdings LLC increased its holdings in Soleno Therapeutics by 28.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 133,584 shares of the company’s stock worth $5,450,000 after purchasing an additional 29,745 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Soleno Therapeutics in the second quarter worth approximately $3,623,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Soleno Therapeutics in the second quarter valued at approximately $29,778,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.