Brokerages Set Soleno Therapeutics, Inc. (NASDAQ:SLNO) Price Target at $71.20

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have received an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $71.20.

SLNO has been the subject of a number of research analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $74.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Robert W. Baird reiterated an “outperform” rating and issued a $72.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Oppenheimer increased their price objective on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th.

Soleno Therapeutics Trading Down 1.6 %

SLNO opened at $49.40 on Friday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -14.88 and a beta of -1.46. Soleno Therapeutics has a 12 month low of $36.61 and a 12 month high of $60.92. The stock has a fifty day moving average price of $47.19 and a 200-day moving average price of $49.91.

Insider Transactions at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of Soleno Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total value of $108,061.20. Following the sale, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James H. Mackaness sold 4,083 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now directly owns 115,089 shares of the company’s stock, valued at approximately $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,360 shares of company stock worth $790,119 over the last 90 days. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Soleno Therapeutics by 6,048,754.5% during the third quarter. FMR LLC now owns 665,374 shares of the company’s stock worth $33,595,000 after buying an additional 665,363 shares in the last quarter. Barclays PLC boosted its stake in shares of Soleno Therapeutics by 149.3% during the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock worth $2,652,000 after acquiring an additional 31,467 shares in the last quarter. State Street Corp grew its holdings in shares of Soleno Therapeutics by 14.2% in the 3rd quarter. State Street Corp now owns 1,142,169 shares of the company’s stock worth $57,668,000 after acquiring an additional 142,033 shares during the period. Holocene Advisors LP increased its stake in Soleno Therapeutics by 10.8% in the 3rd quarter. Holocene Advisors LP now owns 594,364 shares of the company’s stock valued at $30,009,000 after purchasing an additional 57,913 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Soleno Therapeutics by 10.5% during the third quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock worth $27,286,000 after purchasing an additional 51,189 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

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.