Soleno Therapeutics, Inc. (NASDAQ:SLNO) Given Consensus Rating of “Buy” by Analysts

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) have been given a consensus recommendation of “Buy” by the five analysts that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $55.60.

A number of equities analysts have recently issued reports on SLNO shares. Robert W. Baird initiated coverage on Soleno Therapeutics in a research note on Friday. They set an “outperform” rating and a $72.00 target price for the company. Stifel Nicolaus initiated coverage on Soleno Therapeutics in a report on Tuesday, January 23rd. They issued a “buy” rating and a $63.00 price target on the stock. Finally, Piper Sandler started coverage on Soleno Therapeutics in a report on Monday, February 5th. They issued an “overweight” rating and a $93.00 price target on the stock.

Insiders Place Their Bets

In other Soleno Therapeutics news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.80, for a total transaction of $35,850,000.00. Following the completion of the transaction, the insider now owns 7,668,093 shares of the company’s stock, valued at $366,534,845.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Vivo Opportunity, Llc sold 750,000 shares of Soleno Therapeutics stock in a transaction on Monday, April 29th. The stock was sold at an average price of $47.80, for a total value of $35,850,000.00. Following the completion of the sale, the insider now owns 7,668,093 shares of the company’s stock, valued at $366,534,845.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Bhatnagar Anish sold 18,980 shares of Soleno Therapeutics stock in a transaction on Monday, April 1st. The shares were sold at an average price of $41.34, for a total value of $784,633.20. Following the completion of the sale, the chief executive officer now directly owns 152,790 shares of the company’s stock, valued at approximately $6,316,338.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 776,373 shares of company stock valued at $36,940,260. Corporate insiders own 28.80% of the company’s stock.

Institutional Investors Weigh In On Soleno Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SLNO. Vivo Capital LLC boosted its holdings in Soleno Therapeutics by 162.8% in the fourth quarter. Vivo Capital LLC now owns 8,418,093 shares of the company’s stock valued at $338,828,000 after acquiring an additional 5,215,000 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Soleno Therapeutics in the third quarter valued at $39,160,000. Vestal Point Capital LP acquired a new position in Soleno Therapeutics in the fourth quarter valued at $52,325,000. RA Capital Management L.P. acquired a new position in Soleno Therapeutics in the third quarter valued at $36,563,000. Finally, Carlyle Group Inc. boosted its holdings in Soleno Therapeutics by 42.5% in the first quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after acquiring an additional 1,213,758 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 3.0 %

Shares of SLNO stock opened at $47.64 on Friday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -16.04 and a beta of -1.51. The stock has a 50 day simple moving average of $42.57 and a 200-day simple moving average of $39.06. Soleno Therapeutics has a 12-month low of $3.69 and a 12-month high of $53.82.

Soleno Therapeutics (NASDAQ:SLNO) last issued its earnings results on Wednesday, March 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). On average, equities analysts forecast that Soleno Therapeutics will post -1.23 earnings per share for the current fiscal year.

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.