Soleno Therapeutics (NASDAQ:SLNO) Trading 6.6% Higher – Should You Buy?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares traded up 6.6% on Friday . The stock traded as high as $47.57 and last traded at $47.98. 146,471 shares changed hands during trading, a decline of 65% from the average session volume of 418,219 shares. The stock had previously closed at $44.99.

Analysts Set New Price Targets

SLNO has been the topic of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $72.00 price objective on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a research report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and set a $70.00 price objective on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 target price on shares of Soleno Therapeutics in a report on Monday, December 2nd. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $71.20.

Soleno Therapeutics Trading Up 8.5 %

The company has a market capitalization of $2.10 billion, a P/E ratio of -14.70 and a beta of -1.46. The stock has a 50 day moving average price of $47.18 and a 200 day moving average price of $49.95.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.41). On average, research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Insider Buying and Selling

In related news, CFO James H. Mackaness sold 4,083 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $185,409.03. Following the transaction, the chief financial officer now owns 115,089 shares in the company, valued at $5,226,191.49. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the completion of the transaction, the chief executive officer now directly owns 708,616 shares in the company, valued at $32,178,252.56. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,360 shares of company stock worth $790,119 in the last ninety days. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SLNO. Corebridge Financial Inc. raised its position in shares of Soleno Therapeutics by 2.9% during the fourth quarter. Corebridge Financial Inc. now owns 12,720 shares of the company’s stock worth $572,000 after purchasing an additional 357 shares during the period. Summit Investment Advisors Inc. raised its holdings in Soleno Therapeutics by 24.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company’s stock worth $120,000 after buying an additional 522 shares during the last quarter. AlphaQuest LLC raised its holdings in Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock worth $32,000 after buying an additional 658 shares during the last quarter. US Bancorp DE acquired a new position in Soleno Therapeutics during the fourth quarter worth $34,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Soleno Therapeutics by 3.5% in the 4th quarter. Alliancebernstein L.P. now owns 23,810 shares of the company’s stock worth $1,070,000 after acquiring an additional 800 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.