Soleno Therapeutics (NASDAQ:SLNO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Soleno Therapeutics (NASDAQ:SLNO) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Soleno Therapeutics Inc. is a healthcare company. It develops and commercializes diagnostics, devices and therapeutics addressing unmet medical needs. The Company offers products consists of CoSense end-tidal carbon monoxide Monitor, NeoPIP Infant Resuscitator and Accessories and Serenz Nasal Relief. Soleno Therapeutics Inc., formerly known as Capnia Inc., is based in Vancouver, Canada. “

Separately, Oppenheimer restated a buy rating and set a $8.00 target price on shares of Soleno Therapeutics in a report on Wednesday, March 3rd.

SLNO opened at $1.10 on Tuesday. The stock has a market cap of $87.70 million, a price-to-earnings ratio of -1.45 and a beta of 0.71. The stock has a fifty day moving average price of $1.53 and a 200 day moving average price of $1.97. Soleno Therapeutics has a 1 year low of $1.10 and a 1 year high of $4.39.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Thursday, March 4th. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. As a group, research analysts forecast that Soleno Therapeutics will post -0.43 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in SLNO. BlackRock Inc. grew its position in shares of Soleno Therapeutics by 74.4% in the third quarter. BlackRock Inc. now owns 2,695,315 shares of the company’s stock valued at $6,765,000 after purchasing an additional 1,150,141 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Soleno Therapeutics by 119.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,937 shares of the company’s stock valued at $397,000 after buying an additional 85,880 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Soleno Therapeutics in the 3rd quarter worth approximately $98,000. Ikarian Capital LLC acquired a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $236,000. Finally, AQR Capital Management LLC bought a new stake in shares of Soleno Therapeutics in the third quarter valued at approximately $260,000. Institutional investors own 55.38% 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 Controlled-Release (DCCR), a once-daily oral tablet for the treatment of Prader-Willi Syndrome (PWS), is being evaluated in a Phase III clinical development program.

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