Soleno Therapeutics’ (SLNO) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Soleno Therapeutics (NASDAQ:SLNO) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $67.00 target price on the stock.

SLNO has been the subject of several other reports. HC Wainwright began coverage on Soleno Therapeutics in a research note on Tuesday, September 3rd. They issued a buy rating and a $70.00 price objective for the company. Oppenheimer raised their price target on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an outperform rating in a research note on Monday, August 12th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $67.14.

Soleno Therapeutics Trading Down 2.1 %

Shares of Soleno Therapeutics stock opened at $51.61 on Friday. The stock has a 50-day moving average price of $48.71 and a 200 day moving average price of $44.73. The company has a market cap of $1.72 billion, a P/E ratio of -19.26 and a beta of -1.46. Soleno Therapeutics has a 1 year low of $3.96 and a 1 year high of $55.56.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.06. On average, equities analysts forecast that Soleno Therapeutics will post -2.28 earnings per share for the current fiscal year.

Insider Activity at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 19,256 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $41.54, for a total value of $799,894.24. Following the transaction, the chief executive officer now directly owns 133,534 shares of the company’s stock, valued at approximately $5,547,002.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $48.73, for a total value of $24,365,000.00. Following the transaction, the insider now directly owns 6,816,851 shares of the company’s stock, valued at approximately $332,185,149.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bhatnagar Anish sold 19,256 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $41.54, for a total value of $799,894.24. Following the completion of the transaction, the chief executive officer now directly owns 133,534 shares in the company, valued at $5,547,002.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 767,239 shares of company stock valued at $36,744,548. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carlyle Group Inc. grew its holdings in Soleno Therapeutics by 42.5% in the 1st quarter. Carlyle Group Inc. now owns 4,071,562 shares of the company’s stock valued at $173,123,000 after buying an additional 1,213,758 shares during the last quarter. Perceptive Advisors LLC grew its holdings in Soleno Therapeutics by 4.2% in the 2nd quarter. Perceptive Advisors LLC now owns 3,204,976 shares of the company’s stock valued at $130,763,000 after buying an additional 130,434 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in Soleno Therapeutics by 27.9% in the 2nd quarter. Nantahala Capital Management LLC now owns 3,082,107 shares of the company’s stock valued at $125,750,000 after buying an additional 671,728 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Soleno Therapeutics by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,870,811 shares of the company’s stock valued at $122,698,000 after buying an additional 346,914 shares during the last quarter. Finally, Avoro Capital Advisors LLC grew its holdings in Soleno Therapeutics by 28.7% in the 2nd quarter. Avoro Capital Advisors LLC now owns 2,091,666 shares of the company’s stock valued at $85,340,000 after buying an additional 466,666 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

About Soleno Therapeutics

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.