Soleno Therapeutics (NASDAQ:SLNO) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $74.00 price target on the stock.

SLNO has been the topic of several other research reports. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Soleno Therapeutics in a research note on Monday, March 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $72.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Finally, Lifesci Capital raised Soleno Therapeutics to a “strong-buy” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Buy” and an average price target of $71.20.

Soleno Therapeutics Stock Performance

Shares of SLNO stock opened at $44.78 on Wednesday. The stock’s fifty day moving average is $47.16 and its 200-day moving average is $49.78. The stock has a market capitalization of $1.93 billion, a PE ratio of -13.49 and a beta of -1.46. Soleno Therapeutics has a 52 week low of $36.61 and a 52 week high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, analysts forecast that Soleno Therapeutics will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Soleno Therapeutics

In other news, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the sale, the chief executive officer now owns 708,616 shares of the company’s stock, valued at $32,178,252.56. This trade represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction dated 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 directly owns 76,605 shares in the company, valued at approximately $3,537,618.90. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,360 shares of company stock valued at $790,119. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds have recently modified their holdings of SLNO. AlphaQuest LLC raised its position in shares of 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 purchasing an additional 658 shares during the period. US Bancorp DE acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth about $34,000. Avanza Fonder AB bought a new position in shares of Soleno Therapeutics during the fourth quarter worth about $76,000. Springhill Fund Asset Management HK Co Ltd bought a new position in shares of Soleno Therapeutics during the fourth quarter worth about $81,000. Finally, Avior Wealth Management LLC bought a new position in shares of Soleno Therapeutics during the fourth quarter worth about $89,000. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.