Soleno Therapeutics (NASDAQ:SLNO) Shares Gap Up – Time to Buy?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares gapped up prior to trading on Monday . The stock had previously closed at $43.00, but opened at $45.46. Soleno Therapeutics shares last traded at $41.88, with a volume of 775,129 shares.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SLNO shares. Wall Street Zen raised Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Wolfe Research started coverage on shares of Soleno Therapeutics in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $106.00 price target (down from $123.00) on shares of Soleno Therapeutics in a research report on Wednesday, November 5th. The Goldman Sachs Group set a $125.00 price objective on shares of Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $111.46.

Soleno Therapeutics Stock Down 2.4%

The company has a quick ratio of 15.88, a current ratio of 16.08 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $48.73 and its 200 day moving average price is $63.91. The firm has a market cap of $2.25 billion, a P/E ratio of -22.83 and a beta of -3.12.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 earnings per share 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 the consensus estimate of $47.46 million. As a group, research analysts expect that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Soleno Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after buying an additional 189 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Soleno Therapeutics by 50.9% during the first quarter. Goldman Sachs Group Inc. now owns 633,110 shares of the company’s stock valued at $45,236,000 after acquiring an additional 213,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Soleno Therapeutics by 48.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 40,715 shares of the company’s stock worth $2,909,000 after purchasing an additional 13,211 shares in the last quarter. Rhumbline Advisers lifted its position in Soleno Therapeutics by 5.9% in the first quarter. Rhumbline Advisers now owns 36,439 shares of the company’s stock worth $2,604,000 after purchasing an additional 2,044 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in Soleno Therapeutics by 3.3% in the second quarter. Harbor Capital Advisors Inc. now owns 48,498 shares of the company’s stock worth $4,063,000 after purchasing an additional 1,567 shares during the period. Institutional investors own 97.42% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.