Soleno Therapeutics (NASDAQ:SLNO) Given Buy Rating at HC Wainwright

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

Several other research analysts have also recently weighed in on SLNO. Oppenheimer boosted their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Stifel Nicolaus boosted their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 target price on shares of Soleno Therapeutics in a research note on Friday, September 20th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $69.86.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $59.18 on Monday. Soleno Therapeutics has a fifty-two week low of $21.39 and a fifty-two week high of $59.75. The firm’s 50-day simple moving average is $52.07 and its 200 day simple moving average is $47.55.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($1.22). As a group, equities analysts expect that Soleno Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $47.22, for a total value of $4,722,000.00. Following the sale, the insider now owns 6,291,851 shares of the company’s stock, valued at $297,101,204.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $47.22, for a total value of $4,722,000.00. Following the sale, the insider now owns 6,291,851 shares of the company’s stock, valued at $297,101,204.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bhatnagar Anish sold 56,613 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the completion of the sale, the chief executive officer now directly owns 799,577 shares in the company, valued at approximately $38,043,873.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 701,362 shares of company stock valued at $33,970,517 over the last quarter. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC increased its holdings in Soleno Therapeutics by 4.2% during the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock worth $130,763,000 after acquiring an additional 130,434 shares during the period. Nantahala Capital Management LLC increased its holdings in Soleno Therapeutics by 27.9% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock worth $125,750,000 after acquiring an additional 671,728 shares during the period. Janus Henderson Group PLC increased its holdings in Soleno Therapeutics by 13.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock worth $122,698,000 after acquiring an additional 346,914 shares during the period. Avoro Capital Advisors LLC increased its holdings in Soleno Therapeutics by 28.7% during the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock worth $85,340,000 after acquiring an additional 466,666 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Soleno Therapeutics in the 2nd quarter worth $29,778,000. Institutional investors 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.