Investors Purchase Large Volume of Soleno Therapeutics Call Options (NASDAQ:SLNO)

Soleno Therapeutics, Inc. (NASDAQ:SLNO) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 2,940 call options on the stock. This is an increase of approximately 49% compared to the typical daily volume of 1,968 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SLNO shares. Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a report on Tuesday, January 13th. Zacks Research cut Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. HC Wainwright dropped their target price on Soleno Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Soleno Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $102.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in Soleno Therapeutics by 18.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,178,354 shares of the company’s stock worth $332,302,000 after buying an additional 1,122,015 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Soleno Therapeutics by 43.7% during the fourth quarter. Wellington Management Group LLP now owns 3,322,799 shares of the company’s stock valued at $153,846,000 after buying an additional 1,010,704 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Soleno Therapeutics by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock worth $141,695,000 after acquiring an additional 253,212 shares in the last quarter. Avoro Capital Advisors LLC increased its position in shares of Soleno Therapeutics by 12.5% during the fourth quarter. Avoro Capital Advisors LLC now owns 2,900,000 shares of the company’s stock worth $134,270,000 after acquiring an additional 322,223 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Soleno Therapeutics by 21.9% in the 4th quarter. State Street Corp now owns 2,649,626 shares of the company’s stock worth $122,678,000 after acquiring an additional 476,590 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

Soleno Therapeutics Price Performance

Shares of SLNO stock traded up $4.04 on Tuesday, reaching $34.48. The company had a trading volume of 957,459 shares, compared to its average volume of 1,597,627. The business’s 50-day moving average is $38.28 and its 200 day moving average is $48.24. Soleno Therapeutics has a one year low of $29.43 and a one year high of $90.32. The company has a quick ratio of 5.55, a current ratio of 5.80 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.78 billion, a PE ratio of 150.20 and a beta of -3.16.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. The firm had revenue of $91.73 million during the quarter, compared to the consensus estimate of $88.55 million. Equities research analysts forecast that Soleno Therapeutics will post -3.72 EPS for the current fiscal year.

Soleno Therapeutics Company Profile

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.