Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report) rose 8.6% on Wednesday . The company traded as high as $46.22 and last traded at $46.19. Approximately 188,012 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 419,373 shares. The stock had previously closed at $42.54.
Wall Street Analyst Weigh In
A number of research firms recently commented on SLNO. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Oppenheimer lifted their price target on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Stifel Nicolaus restated a “buy” rating and set a $74.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and a consensus target price of $74.83.
View Our Latest Stock Report on Soleno Therapeutics
Soleno Therapeutics Stock Up 1.9 %
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). As a group, sell-side analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.
Insider Activity at Soleno Therapeutics
In other news, insider Kristen Yen sold 2,340 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $46.18, for a total transaction of $108,061.20. Following the transaction, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James H. Mackaness sold 4,083 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total value of $185,409.03. Following the completion of the transaction, the chief financial officer now owns 115,089 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 17,360 shares of company stock valued at $790,119. Insiders own 12.30% of the company’s stock.
Institutional Trading of Soleno Therapeutics
Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at approximately $31,000. Harbor Capital Advisors Inc. boosted its holdings in Soleno Therapeutics by 3.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 37,296 shares of the company’s stock worth $1,676,000 after purchasing an additional 1,248 shares during the period. Avanza Fonder AB bought a new stake in Soleno Therapeutics during the fourth quarter valued at $76,000. Avior Wealth Management LLC acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth $89,000. Finally, Victory Capital Management Inc. lifted its position in shares of Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after buying an additional 2,236 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.
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.
Read More
- Five stocks we like better than Soleno Therapeutics
- Dividend Capture Strategy: What You Need to Know
- AI Demand Sparks Opportunities for These 3 Nuclear Energy Leaders
- Low PE Growth Stocks: Unlocking Investment Opportunities
- TSMC: Long-Term Outlook Still Strong as Geopolitical Risk Rises
- The How And Why of Investing in Oil Stocks
- Uber’s NVIDIA Deal and Buybacks Signal Major Upside
Receive News & Ratings for Soleno Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Soleno Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.