Soleno Therapeutics (NASDAQ:SLNO) Shares Gap Down – Time to Sell?

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) gapped down before the market opened on Wednesday . The stock had previously closed at $63.85, but opened at $49.89. Soleno Therapeutics shares last traded at $45.1230, with a volume of 2,269,226 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen upgraded Soleno Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 10th. HC Wainwright reissued a “buy” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Soleno Therapeutics in a research note on Monday, August 18th. Guggenheim reaffirmed a “buy” rating and set a $106.00 target price on shares of Soleno Therapeutics in a research report on Wednesday, August 27th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $106.00 target price (down from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $114.50.

Soleno Therapeutics Stock Down 29.8%

The company has a current ratio of 15.13, a quick ratio of 15.01 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -10.82 and a beta of -2.75. The firm has a 50-day moving average of $63.61 and a two-hundred day moving average of $73.46.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million during the quarter, compared to analyst estimates of $47.46 million. As a group, sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. increased its holdings in Soleno Therapeutics by 58.2% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 4,392,696 shares of the company’s stock valued at $313,858,000 after purchasing an additional 1,616,720 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Soleno Therapeutics by 47.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,400,418 shares of the company’s stock valued at $171,510,000 after purchasing an additional 769,700 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Soleno Therapeutics by 18.0% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,429,756 shares of the company’s stock valued at $119,785,000 after purchasing an additional 218,511 shares in the last quarter. State Street Corp increased its holdings in Soleno Therapeutics by 20.2% in the second quarter. State Street Corp now owns 1,404,983 shares of the company’s stock valued at $117,709,000 after purchasing an additional 235,784 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Soleno Therapeutics by 46.6% in the second quarter. Geode Capital Management LLC now owns 902,396 shares of the company’s stock valued at $75,611,000 after purchasing an additional 286,660 shares during the last quarter. 97.42% of the stock is owned by institutional investors and hedge funds.

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.