Soleno Therapeutics (NASDAQ:SLNO) Stock Price Up 8.6% – Still a Buy?

Soleno Therapeutics, Inc. (NASDAQ:SLNOGet 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 %

The stock has a market capitalization of $2.02 billion, a PE ratio of -14.12 and a beta of -1.47. The business’s fifty day moving average is $49.23 and its 200-day moving average is $49.40.

Soleno Therapeutics (NASDAQ:SLNOGet 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

(Get Free Report)

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.

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