Soleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $43.74 and traded as low as $37.10. Soleno Therapeutics shares last traded at $37.54, with a volume of 369,116 shares.
Analyst Ratings Changes
Several equities research analysts have recently commented on SLNO shares. Oppenheimer upped their price target on Soleno Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 2nd. Piper Sandler started coverage on Soleno Therapeutics in a research note on Monday, February 5th. They set an “overweight” rating and a $93.00 price target for the company. Finally, Stifel Nicolaus began coverage on Soleno Therapeutics in a research note on Tuesday, January 23rd. They set a “buy” rating and a $63.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and an average target price of $55.60.
Get Our Latest Analysis on Soleno Therapeutics
Soleno Therapeutics Price Performance
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.02). On average, equities analysts expect that Soleno Therapeutics, Inc. will post -1.23 EPS for the current fiscal year.
Insider Activity at Soleno Therapeutics
In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 18,980 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $784,633.20. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO James H. Mackaness sold 5,175 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $213,934.50. Following the transaction, the chief financial officer now directly owns 62,953 shares in the company, valued at approximately $2,602,477.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bhatnagar Anish sold 18,980 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $41.34, for a total value of $784,633.20. Following the completion of the transaction, the chief executive officer now owns 152,790 shares in the company, valued at $6,316,338.60. The disclosure for this sale can be found here. Insiders have sold a total of 29,297 shares of company stock valued at $1,231,489 over the last quarter. Insiders own 28.80% of the company’s stock.
Hedge Funds Weigh In On Soleno Therapeutics
A number of large investors have recently modified their holdings of SLNO. Bank of New York Mellon Corp purchased a new position in shares of Soleno Therapeutics in the 3rd quarter worth about $280,000. Aspiriant LLC purchased a new position in shares of Soleno Therapeutics in the 4th quarter worth about $488,000. Cannon Global Investment Management LLC purchased a new position in shares of Soleno Therapeutics in the 1st quarter worth about $505,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Soleno Therapeutics in the 3rd quarter worth about $685,000. Finally, Maven Securities LTD purchased a new position in shares of Soleno Therapeutics in the 3rd quarter worth about $738,000. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
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.
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