Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Rating of “Buy” by Brokerages

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.33.

SLNO has been the subject of a number of recent research reports. Baird R W upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Friday, May 10th. Robert W. Baird initiated coverage on Soleno Therapeutics in a research report on Friday, May 10th. They set an “outperform” rating and a $72.00 target price for the company. Finally, Oppenheimer dropped their target price on Soleno Therapeutics from $65.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, May 13th.

Soleno Therapeutics Stock Performance

Soleno Therapeutics stock opened at $40.80 on Friday. The firm has a market cap of $1.36 billion, a P/E ratio of -15.22 and a beta of -1.40. The business’s fifty day moving average is $43.20 and its two-hundred day moving average is $43.19. Soleno Therapeutics has a 52 week low of $3.69 and a 52 week high of $53.82.

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

Insider Activity at Soleno Therapeutics

In related news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.80, for a total value of $35,850,000.00. Following the completion of the sale, the insider now owns 7,668,093 shares in the company, valued at $366,534,845.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Soleno Therapeutics news, CFO James H. Mackaness sold 5,175 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $213,934.50. Following the completion of the sale, the chief financial officer now directly owns 62,953 shares in the company, valued at $2,602,477.02. The sale 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 stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $47.80, for a total value of $35,850,000.00. Following the completion of 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 quarter, insiders sold 776,373 shares of company stock worth $36,940,260. 12.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several large investors have recently modified their holdings of the business. Vivo Capital LLC increased its holdings in shares of Soleno Therapeutics by 162.8% in the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock worth $338,828,000 after acquiring an additional 5,215,000 shares in the last quarter. Carlyle Group Inc. increased its holdings 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 worth $173,123,000 after acquiring an additional 1,213,758 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Soleno Therapeutics by 13.7% during the first quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock worth $122,698,000 after buying an additional 346,914 shares during the period. Avoro Capital Advisors LLC boosted its position in shares of Soleno Therapeutics by 107.0% during the first quarter. Avoro Capital Advisors LLC now owns 1,625,000 shares of the company’s stock worth $69,550,000 after buying an additional 840,000 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Soleno Therapeutics during the third quarter worth about $39,160,000. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Company Profile

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.