Soleno Therapeutics, Inc. (NASDAQ:SLNO) Receives $71.20 Average Target Price from Analysts

Soleno Therapeutics, Inc. (NASDAQ:SLNO) has received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $71.20.

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

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 10,937 shares of Soleno Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $496,649.17. Following the completion of the transaction, the chief executive officer now directly owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its stake in shares of Soleno Therapeutics by 21.5% in the third quarter. Janus Henderson Group PLC now owns 4,081,099 shares of the company’s stock valued at $206,016,000 after buying an additional 722,226 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Soleno Therapeutics by 20.1% during the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock worth $176,607,000 after acquiring an additional 658,518 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in Soleno Therapeutics by 15.8% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock worth $113,499,000 after acquiring an additional 344,000 shares during the last quarter. Vanguard Group Inc. increased its position in Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after acquiring an additional 303,806 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Soleno Therapeutics by 24.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock worth $73,301,000 after acquiring an additional 321,223 shares during the last quarter. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

Shares of SLNO opened at $49.17 on Friday. Soleno Therapeutics has a one year low of $36.61 and a one year high of $60.92. The company’s fifty day moving average price is $47.18 and its 200 day moving average price is $49.96. The company has a market capitalization of $2.12 billion, a PE ratio of -14.81 and a beta of -1.46.

About Soleno Therapeutics

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.