Soleno Therapeutics (NASDAQ:SLNO) Now Covered by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $70.00 price objective on the stock. HC Wainwright also issued estimates for Soleno Therapeutics’ Q3 2024 earnings at ($0.56) EPS, Q4 2024 earnings at ($0.60) EPS, FY2024 earnings at ($2.33) EPS, Q1 2025 earnings at ($0.59) EPS, Q2 2025 earnings at ($0.59) EPS, Q3 2025 earnings at ($0.61) EPS, Q4 2025 earnings at ($0.53) EPS and FY2025 earnings at ($2.32) EPS.

Other analysts have also issued reports about the stock. Robert W. Baird began coverage on shares of Soleno Therapeutics in a research report on Friday, May 10th. They set an outperform rating and a $72.00 target price for the company. Cantor Fitzgerald restated an overweight rating and set a $67.00 target price on shares of Soleno Therapeutics in a research report on Wednesday, July 31st. Baird R W upgraded shares of Soleno Therapeutics to a strong-buy rating in a research report on Friday, May 10th. Finally, Oppenheimer upped their price target on shares of Soleno Therapeutics from $59.00 to $65.00 and gave the stock an outperform rating in a research report on Monday, August 12th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average price target of $67.14.

Soleno Therapeutics Stock Performance

Shares of Soleno Therapeutics stock opened at $48.54 on Tuesday. The stock has a market capitalization of $1.62 billion, a PE ratio of -18.11 and a beta of -1.39. Soleno Therapeutics has a 52-week low of $3.69 and a 52-week high of $53.82. The company has a 50-day simple moving average of $47.00 and a two-hundred day simple moving average of $44.62.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. As a group, equities research analysts forecast that Soleno Therapeutics will post -2.27 EPS for the current fiscal year.

Insider Transactions at Soleno Therapeutics

In other news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total value of $24,365,000.00. Following the transaction, the insider now owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total value of $24,365,000.00. Following the sale, the insider now owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kristen Yen sold 2,170 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $41.54, for a total transaction of $90,141.80. Following the completion of the sale, the insider now directly owns 21,252 shares in the company, valued at approximately $882,808.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 767,239 shares of company stock valued at $36,744,548. 12.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in shares of Soleno Therapeutics in the second quarter valued at $31,000. Victory Capital Management Inc. grew its holdings in shares of Soleno Therapeutics by 26.3% in the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after purchasing an additional 2,236 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Soleno Therapeutics by 22.0% in the first quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after purchasing an additional 2,264 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Soleno Therapeutics by 33.8% in the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock worth $590,000 after purchasing an additional 3,481 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Soleno Therapeutics by 32.0% in the first quarter. Swiss National Bank now owns 30,100 shares of the company’s stock worth $1,288,000 after purchasing an additional 7,300 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company’s stock.

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.