Soleno Therapeutics (NASDAQ:SLNO) Reaches New 12-Month Low – Here’s Why

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $37.92 and last traded at $38.3050, with a volume of 283538 shares. The stock had previously closed at $40.05.

Analyst Upgrades and Downgrades

SLNO has been the subject of several analyst reports. Wolfe Research set a $60.00 target price on Soleno Therapeutics in a report on Monday, January 12th. Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Zacks Research downgraded shares of Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $114.00 target price (up previously from $106.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $110.62.

Soleno Therapeutics Stock Performance

The firm’s 50 day moving average price is $44.78 and its 200-day moving average price is $56.63. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -20.24 and a beta of -3.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds have recently made changes to their positions in SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Soleno Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock valued at $1,242,000 after acquiring an additional 189 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Soleno Therapeutics during the 2nd quarter worth approximately $25,000. Avanza Fonder AB increased its position in shares of Soleno Therapeutics by 11.2% during the fourth quarter. Avanza Fonder AB now owns 3,195 shares of the company’s stock valued at $148,000 after purchasing an additional 323 shares during the period. Principal Financial Group Inc. raised its stake in shares of Soleno Therapeutics by 11.9% in the third quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock valued at $216,000 after purchasing an additional 340 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Soleno Therapeutics by 2.4% in the third quarter. New York State Common Retirement Fund now owns 15,600 shares of the company’s stock valued at $1,055,000 after purchasing an additional 360 shares in the last quarter. 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.