Soleno Therapeutics Inc (SLNO) Receives Average Recommendation of “Buy” from Analysts
Shares of Soleno Therapeutics Inc (NASDAQ:SLNO) have earned a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have covered the stock in the last year is $6.45.
A number of research firms recently weighed in on SLNO. Zacks Investment Research downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Maxim Group set a $4.00 target price on Soleno Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 15th.
SLNO stock traded down $0.11 during trading on Tuesday, reaching $2.05. 13,600 shares of the stock were exchanged, compared to its average volume of 92,683. Soleno Therapeutics has a twelve month low of $1.32 and a twelve month high of $3.60. The company has a market cap of $46.68 million, a PE ratio of -1.52 and a beta of 4.29.
In other Soleno Therapeutics news, major shareholder Technology Partners Fund Vii L sold 22,682 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $2.03, for a total transaction of $46,044.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 43.27% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vivo Capital LLC lifted its stake in Soleno Therapeutics by 8.1% during the second quarter. Vivo Capital LLC now owns 4,359,683 shares of the company’s stock worth $10,202,000 after purchasing an additional 326,149 shares during the period. Dimensional Fund Advisors LP bought a new position in Soleno Therapeutics during the second quarter worth about $104,000. Finally, Trellus Management Company LLC bought a new position in Soleno Therapeutics during the second quarter worth about $302,000. Hedge funds and other institutional investors own 44.36% of the company’s stock.
About Soleno Therapeutics
Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate, diazoxide choline controlled-release (DCCR), a tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into late-stage clinical development.
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