Soleno Therapeutics (NASDAQ:SLNO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

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, Maxim Group set a $5.00 target price on shares of Soleno Therapeutics and gave the stock a “buy” rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $6.31.

NASDAQ SLNO opened at $1.35 on Friday. Soleno Therapeutics has a 12 month low of $1.11 and a 12 month high of $3.60. The firm has a market cap of $32.80 million, a price-to-earnings ratio of -1.00 and a beta of 3.29.

In other Soleno Therapeutics news, major shareholder Jack W. Schuler bought 3,031,002 shares of the company’s stock in a transaction on Friday, December 21st. The shares were bought at an average cost of $1.61 per share, with a total value of $4,879,913.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.27% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of SLNO. Vanguard Group Inc raised its holdings in shares of Soleno Therapeutics by 30.1% during the third quarter. Vanguard Group Inc now owns 66,075 shares of the company’s stock worth $143,000 after purchasing an additional 15,281 shares during the period. Fosun International Ltd acquired a new stake in shares of Soleno Therapeutics during the fourth quarter worth $294,000. Finally, Trellus Management Company LLC raised its holdings in shares of Soleno Therapeutics by 10.8% during the fourth quarter. Trellus Management Company LLC now owns 169,380 shares of the company’s stock worth $290,000 after purchasing an additional 16,551 shares during the period. 72.32% of the stock is currently owned by institutional investors.

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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