Soleno Therapeutics (NASDAQ:SLNO) Rating Reiterated by Cantor Fitzgerald

Soleno Therapeutics (NASDAQ:SLNO)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports. They currently have a $67.00 target price on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 29.82% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Oppenheimer increased their price objective on Soleno Therapeutics from $59.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. HC Wainwright assumed coverage on Soleno Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $70.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $67.14.

Soleno Therapeutics Stock Down 2.1 %

SLNO stock opened at $51.61 on Friday. Soleno Therapeutics has a twelve month low of $3.96 and a twelve month high of $55.56. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -19.26 and a beta of -1.46. The business’s fifty day simple moving average is $48.71 and its two-hundred day simple moving average is $44.75.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.06. Research analysts expect that Soleno Therapeutics will post -2.28 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James H. Mackaness sold 7,190 shares of Soleno Therapeutics 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 $298,672.60. Following the transaction, the chief financial officer now owns 55,763 shares of the company’s stock, valued at approximately $2,316,395.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Soleno Therapeutics news, CFO James H. Mackaness sold 7,190 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 $298,672.60. Following the completion of the sale, the chief financial officer now directly owns 55,763 shares in the company, valued at $2,316,395.02. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the company’s stock in a transaction 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 in the company, valued at $332,185,149.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 767,239 shares of company stock worth $36,744,548. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new position in shares of Soleno Therapeutics in the 2nd quarter valued at $31,000. Victory Capital Management Inc. increased its holdings in Soleno Therapeutics by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after buying an additional 2,236 shares during the period. Sei Investments Co. raised its position in Soleno Therapeutics by 22.0% during the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock worth $538,000 after buying an additional 2,264 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Soleno Therapeutics by 33.8% in the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after acquiring an additional 3,481 shares during the last quarter. Finally, Swiss National Bank increased its stake 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 acquiring an additional 7,300 shares during the period. 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.