HC Wainwright Reaffirms “Buy” Rating for Soleno Therapeutics (NASDAQ:SLNO)

HC Wainwright restated their buy rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $70.00 target price on the stock.

SLNO has been the topic of several other reports. Stifel Nicolaus reissued a “buy” rating and set a $74.00 price target on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Robert W. Baird restated an “outperform” rating and issued a $72.00 price objective on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Lifesci Capital upgraded shares of Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Soleno Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $71.20.

Soleno Therapeutics Trading Down 6.2 %

Shares of Soleno Therapeutics stock opened at $45.80 on Monday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -13.80 and a beta of -1.46. Soleno Therapeutics has a 1-year low of $36.61 and a 1-year high of $60.92. The firm’s 50-day moving average price is $47.20 and its two-hundred day moving average price is $49.92.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities research analysts predict that Soleno Therapeutics will post -3.72 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James H. Mackaness sold 4,083 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total transaction of $185,409.03. Following the sale, the chief financial officer now directly owns 115,089 shares in the company, valued at $5,226,191.49. This trade represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Bhatnagar Anish sold 10,937 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the sale, the chief executive officer now owns 708,616 shares in the company, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,360 shares of company stock worth $790,119. Company insiders own 12.30% 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 the stock. Janus Henderson Group PLC grew its position in shares of Soleno Therapeutics by 27.1% in the 4th quarter. Janus Henderson Group PLC now owns 5,188,265 shares of the company’s stock valued at $233,130,000 after acquiring an additional 1,107,166 shares during the period. Nantahala Capital Management LLC grew its position in shares of Soleno Therapeutics by 20.1% in the 4th quarter. Nantahala Capital Management LLC now owns 3,928,966 shares of the company’s stock valued at $176,607,000 after acquiring an additional 658,518 shares during the period. Avoro Capital Advisors LLC grew its position in shares of Soleno Therapeutics by 15.8% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,525,000 shares of the company’s stock valued at $113,499,000 after acquiring an additional 344,000 shares during the period. Vanguard Group Inc. grew its position in shares of Soleno Therapeutics by 19.2% in the 4th quarter. Vanguard Group Inc. now owns 1,884,533 shares of the company’s stock valued at $84,710,000 after acquiring an additional 303,806 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Soleno Therapeutics by 24.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,630,718 shares of the company’s stock valued at $73,301,000 after acquiring an additional 321,223 shares during the period. 97.42% of the stock is currently 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.