Soleno Therapeutics (NASDAQ:SLNO) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) saw unusually-high trading volume on Monday after HC Wainwright raised their price target on the stock from $70.00 to $100.00. HC Wainwright currently has a buy rating on the stock. Approximately 891,497 shares traded hands during trading, an increase of 40% from the previous session’s volume of 638,012 shares.The stock last traded at $73.53 and had previously closed at $71.99.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Soleno Therapeutics from $72.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday. Cantor Fitzgerald lifted their target price on shares of Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday. Lifesci Capital upgraded Soleno Therapeutics to a “strong-buy” rating in a report on Tuesday, February 4th. Laidlaw boosted their price objective on Soleno Therapeutics from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus raised their price target on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a report on Friday. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Soleno Therapeutics has a consensus rating of “Buy” and a consensus price target of $98.86.

Insider Activity at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 10,937 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.41, for a total transaction of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kristen Yen sold 2,340 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the sale, the insider now directly owns 76,605 shares in the company, valued at $3,537,618.90. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,360 shares of company stock valued at $790,119 over the last ninety days. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Soleno Therapeutics

Large investors have recently modified their holdings of the business. AlphaQuest LLC increased its holdings in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the period. US Bancorp DE bought a new position in Soleno Therapeutics in the 4th quarter worth about $34,000. Avanza Fonder AB purchased a new stake in Soleno Therapeutics during the 4th quarter valued at about $76,000. Springhill Fund Asset Management HK Co Ltd purchased a new position in Soleno Therapeutics in the fourth quarter worth about $81,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Soleno Therapeutics during the fourth quarter valued at approximately $89,000. Institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Trading Up 1.9 %

The business’s fifty day moving average is $48.94 and its two-hundred day moving average is $50.08. The company has a market capitalization of $3.36 billion, a PE ratio of -22.12 and a beta of -1.70.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). As a group, equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

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.