Soleno Therapeutics (NASDAQ:SLNO) Shares Gap Up – What’s Next?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares gapped up prior to trading on Monday . The stock had previously closed at $43.00, but opened at $45.46. Soleno Therapeutics shares last traded at $41.88, with a volume of 775,129 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SLNO shares. The Goldman Sachs Group set a $125.00 target price on Soleno Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $106.00 price objective (down previously from $123.00) on shares of Soleno Therapeutics in a research note on Wednesday, November 5th. Zacks Research raised shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Wolfe Research started coverage on shares of Soleno Therapeutics in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $111.46.

Soleno Therapeutics Trading Down 2.4%

The company has a 50-day moving average price of $48.73 and a 200-day moving average price of $63.91. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -22.83 and a beta of -3.12. The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million during the quarter, compared to the consensus estimate of $47.46 million. Research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLNO. Raymond James Financial Inc. bought a new position in Soleno Therapeutics during the second quarter worth about $25,000. Danske Bank A S acquired a new stake in Soleno Therapeutics during the 3rd quarter worth $27,000. Nisa Investment Advisors LLC raised its holdings in Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock worth $45,000 after buying an additional 400 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Soleno Therapeutics in the third quarter valued at about $37,000. Finally, Quarry LP bought a new stake in Soleno Therapeutics in the 3rd quarter valued at approximately $47,000. Institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.