Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives Consensus Rating of “Buy” from Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been assigned a consensus recommendation of “Buy” from the five brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $55.60.

A number of equities analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Soleno Therapeutics in a research note on Monday, February 5th. They issued an “overweight” rating and a $93.00 price target on the stock. Robert W. Baird assumed coverage on shares of Soleno Therapeutics in a research note on Friday. They issued an “outperform” rating and a $72.00 price target on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics in a research note on Tuesday, January 23rd. They issued a “buy” rating and a $63.00 price target on the stock.

Insider Buying and Selling

In related news, insider Kristen Yen sold 2,218 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $91,692.12. Following the completion of the sale, the insider now directly owns 23,422 shares in the company, valued at $968,265.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Soleno Therapeutics news, insider Kristen Yen sold 2,218 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $41.34, for a total transaction of $91,692.12. Following the completion of the sale, the insider now directly owns 23,422 shares in the company, valued at $968,265.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the sale, the insider now owns 7,668,093 shares of the company’s stock, valued at $366,534,845.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 776,373 shares of company stock worth $36,940,260. Corporate insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Sei Investments Co. lifted its stake in shares of Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after buying an additional 2,264 shares during the period. Swiss National Bank lifted its stake in shares of Soleno Therapeutics by 32.0% in the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock valued at $1,288,000 after buying an additional 7,300 shares during the period. Carlyle Group Inc. lifted its stake in shares of Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after buying an additional 1,213,758 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Soleno Therapeutics in the first quarter valued at about $4,444,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Soleno Therapeutics in the first quarter valued at about $505,000. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Stock Up 3.0 %

Shares of NASDAQ:SLNO opened at $47.64 on Friday. The company’s fifty day moving average is $42.57 and its two-hundred day moving average is $39.06. Soleno Therapeutics has a 12-month low of $3.69 and a 12-month high of $53.82. The company has a market cap of $1.59 billion, a P/E ratio of -16.04 and a beta of -1.51.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). Equities research analysts anticipate that Soleno Therapeutics will post -1.23 earnings per share for the current year.

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.