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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $36.67 and last traded at $38.50, with a volume of 964134 shares changing hands. The stock had previously closed at $37.24.

Analysts Set New Price Targets

Several research analysts recently issued reports on SLNO shares. HC Wainwright reissued a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a research note on Thursday, January 22nd. Zacks Research downgraded Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Robert W. Baird set a $107.00 price target on Soleno Therapeutics in a report on Tuesday, January 13th. Finally, Wolfe Research set a $60.00 price objective on Soleno Therapeutics in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.62.

Soleno Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88. The stock has a market capitalization of $2.07 billion, a P/E ratio of -20.92 and a beta of -3.16. The company has a 50 day simple moving average of $44.27 and a 200-day simple moving average of $55.55.

Hedge Funds Weigh In On Soleno Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Soleno Therapeutics in the second quarter valued at approximately $25,000. Danske Bank A S bought a new stake in shares of Soleno Therapeutics during the 3rd quarter worth $27,000. Global Retirement Partners LLC grew its position in Soleno Therapeutics by 519.0% in the fourth quarter. Global Retirement Partners LLC now owns 619 shares of the company’s stock worth $29,000 after acquiring an additional 519 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Soleno Therapeutics in the 3rd quarter worth about $37,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Soleno Therapeutics by 287.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 539 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the last quarter. 97.42% of the stock is currently owned by institutional investors.

Soleno Therapeutics Company Profile

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.